Marshall Wace North America L.P. grew its stake in Norbord Inc (NYSE:OSB) by 89.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,865 shares of the construction company’s stock after acquiring an additional 26,416 shares during the period. Marshall Wace North America L.P. owned 0.07% of Norbord worth $1,496,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in OSB. Oppenheimer Asset Management Inc. acquired a new stake in Norbord in the 4th quarter valued at about $60,000. Tower Research Capital LLC TRC lifted its stake in Norbord by 2,057.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,013 shares of the construction company’s stock valued at $96,000 after purchasing an additional 3,827 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Norbord by 20.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,629 shares of the construction company’s stock valued at $97,000 after purchasing an additional 608 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Norbord in the 3rd quarter valued at about $101,000. Finally, Trexquant Investment LP acquired a new stake in Norbord in the 4th quarter valued at about $325,000. Institutional investors own 81.39% of the company’s stock.
Shares of OSB stock opened at $14.10 on Thursday. The firm has a 50 day moving average price of $25.08 and a two-hundred day moving average price of $26.29. The company has a quick ratio of 0.89, a current ratio of 1.78 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $1.04 billion, a PE ratio of -27.65 and a beta of 1.80. Norbord Inc has a 12-month low of $8.92 and a 12-month high of $33.70.
Norbord (NYSE:OSB) last issued its quarterly earnings data on Wednesday, February 5th. The construction company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.16). The company had revenue of $403.00 million for the quarter, compared to analyst estimates of $435.88 million. Norbord had a negative return on equity of 4.06% and a negative net margin of 2.43%. The company’s revenue was down 19.6% on a year-over-year basis. During the same quarter last year, the business earned $0.30 earnings per share. As a group, research analysts expect that Norbord Inc will post 2.63 EPS for the current year.
Several equities research analysts recently issued reports on the stock. Credit Suisse Group raised their target price on shares of Norbord from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. ValuEngine upgraded shares of Norbord from a “hold” rating to a “buy” rating in a research note on Friday, March 6th. Raymond James reiterated a “buy” rating and issued a $54.00 target price on shares of Norbord in a research note on Thursday, February 6th. TD Securities raised their target price on shares of Norbord from $37.00 to $39.00 and gave the company an “action list buy” rating in a research note on Thursday, February 6th. Finally, Zacks Investment Research downgraded shares of Norbord from a “buy” rating to a “hold” rating in a research note on Saturday, February 8th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $41.43.
Norbord Company Profile
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.
Read More: What are no-load funds?
Want to see what other hedge funds are holding OSB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norbord Inc (NYSE:OSB).
Receive News & Ratings for Norbord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norbord and related companies with MarketBeat.com's FREE daily email newsletter.