Russell Investments Group Ltd. Sells 103,955 Shares of Norbord Inc (OSB)

Russell Investments Group Ltd. lowered its stake in shares of Norbord Inc (NYSE:OSB) by 47.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,852 shares of the construction company’s stock after selling 103,955 shares during the period. Russell Investments Group Ltd. owned 0.13% of Norbord worth $4,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in OSB. CIBC World Markets Inc. increased its position in Norbord by 314.6% in the first quarter. CIBC World Markets Inc. now owns 674,099 shares of the construction company’s stock worth $24,490,000 after purchasing an additional 511,528 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Norbord by 24.4% during the second quarter. Acadian Asset Management LLC now owns 2,337,800 shares of the construction company’s stock worth $96,071,000 after buying an additional 459,177 shares during the period. Schroder Investment Management Group boosted its stake in Norbord by 300.2% during the first quarter. Schroder Investment Management Group now owns 556,927 shares of the construction company’s stock worth $26,014,000 after buying an additional 417,776 shares during the period. TD Asset Management Inc. boosted its stake in Norbord by 62.8% during the second quarter. TD Asset Management Inc. now owns 931,503 shares of the construction company’s stock worth $38,281,000 after buying an additional 359,456 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its stake in Norbord by 61.5% during the first quarter. Hillsdale Investment Management Inc. now owns 740,148 shares of the construction company’s stock worth $26,831,000 after buying an additional 281,800 shares during the period. Hedge funds and other institutional investors own 76.86% of the company’s stock.

Shares of NYSE OSB opened at $29.65 on Tuesday. The company has a market capitalization of $2.88 billion, a P/E ratio of 6.60, a PEG ratio of 0.97 and a beta of 2.41. Norbord Inc has a 52 week low of $29.47 and a 52 week high of $45.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.83 and a current ratio of 2.69.

Norbord (NYSE:OSB) last issued its earnings results on Thursday, August 2nd. The construction company reported $1.92 EPS for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.31. Norbord had a return on equity of 48.17% and a net margin of 22.75%. The firm had revenue of $707.00 million for the quarter, compared to analyst estimates of $682.27 million. During the same quarter in the prior year, the firm earned $1.10 earnings per share. Norbord’s revenue for the quarter was up 31.9% on a year-over-year basis. Sell-side analysts predict that Norbord Inc will post 5.7 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Saturday, September 1st were given a $3.459 dividend. This represents a $13.84 annualized dividend and a yield of 46.66%. The ex-dividend date was Thursday, August 30th. This is a positive change from Norbord’s previous quarterly dividend of $0.47. Norbord’s dividend payout ratio is currently 306.68%.

Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Norbord from a “hold” rating to a “strong sell” rating in a research note on Saturday. ValuEngine lowered shares of Norbord from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 3rd. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.29.

About Norbord

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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Institutional Ownership by Quarter for Norbord (NYSE:OSB)

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