Marshall Wace North America L.P. grew its stake in shares of Norbord Inc (NYSE:OSB) by 89.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,865 shares of the construction company’s stock after buying an additional 26,416 shares during the quarter. Marshall Wace North America L.P.’s holdings in Norbord were worth $1,496,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Norbord during the fourth quarter worth $60,000. Tower Research Capital LLC TRC lifted its holdings in shares of Norbord by 2,057.5% during the third quarter. Tower Research Capital LLC TRC now owns 4,013 shares of the construction company’s stock worth $96,000 after purchasing an additional 3,827 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Norbord by 20.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,629 shares of the construction company’s stock worth $97,000 after purchasing an additional 608 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Norbord during the third quarter worth $101,000. Finally, Trexquant Investment LP acquired a new position in shares of Norbord during the fourth quarter worth $325,000. 81.39% of the stock is currently owned by hedge funds and other institutional investors.
OSB has been the topic of a number of recent research reports. TD Securities lifted their price target on shares of Norbord from $37.00 to $39.00 and gave the stock an “action list buy” rating in a report on Thursday, February 6th. Credit Suisse Group lifted their price target on shares of Norbord from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Royal Bank of Canada upgraded shares of Norbord from a “sector perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a report on Tuesday, March 17th. CIBC upgraded shares of Norbord from a “neutral” rating to a “sector outperform” rating and set a $50.00 price target on the stock in a report on Thursday, March 5th. Finally, Zacks Investment Research lowered shares of Norbord from a “buy” rating to a “hold” rating in a report on Saturday, February 8th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Norbord currently has an average rating of “Buy” and an average price target of $41.43.
Shares of NYSE:OSB opened at $14.10 on Thursday. The firm has a market cap of $1.04 billion, a PE ratio of -27.65 and a beta of 1.80. The firm’s fifty day moving average is $25.08 and its 200-day moving average is $26.29. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.89 and a current ratio of 1.78. Norbord Inc has a 52 week low of $8.92 and a 52 week high of $33.70.
Norbord (NYSE:OSB) last released its earnings results on Wednesday, February 5th. The construction company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.16). The firm had revenue of $403.00 million during the quarter, compared to analyst estimates of $435.88 million. Norbord had a negative net margin of 2.43% and a negative return on equity of 4.06%. Norbord’s quarterly revenue was down 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 EPS. Sell-side analysts forecast that Norbord Inc will post 2.63 EPS for the current year.
Norbord Inc manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial manufacturers primarily in North America and Europe. The company offers oriented strand boards for use in sheathing, flooring, and roofing in home construction applications; particleboards that are used in flooring and other construction applications; and medium density fiberboards for use in cabinet doors, mouldings, and interior wall paneling applications, as well as related value-added products for use in the construction of new homes, and renovation and repair of existing structures.
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