Virtus ETF Advisers LLC Acquires New Holdings in Norbord Inc (NYSE:OSB)

Virtus ETF Advisers LLC acquired a new stake in Norbord Inc (NYSE:OSB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 96,305 shares of the construction company’s stock, valued at approximately $2,387,000. Virtus ETF Advisers LLC owned about 0.12% of Norbord at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of OSB. Formula Growth Ltd. acquired a new stake in shares of Norbord during the 1st quarter worth about $7,439,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Norbord by 625.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 238,860 shares of the construction company’s stock worth $8,338,000 after purchasing an additional 205,936 shares during the last quarter. Letko Brosseau & Associates Inc. boosted its stake in shares of Norbord by 3.3% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 5,397,009 shares of the construction company’s stock worth $134,063,000 after purchasing an additional 173,060 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Norbord by 39.7% during the 2nd quarter. Wells Fargo & Company MN now owns 591,904 shares of the construction company’s stock worth $14,673,000 after purchasing an additional 168,093 shares during the last quarter. Finally, TD Asset Management Inc. boosted its stake in shares of Norbord by 21.1% during the 1st quarter. TD Asset Management Inc. now owns 806,301 shares of the construction company’s stock worth $22,222,000 after purchasing an additional 140,535 shares during the last quarter. 78.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of OSB stock traded down $0.63 during trading hours on Friday, hitting $24.46. 10,807 shares of the company were exchanged, compared to its average volume of 137,362. The firm has a market cap of $2.02 billion, a PE ratio of 5.19 and a beta of 2.01. Norbord Inc has a 1 year low of $19.46 and a 1 year high of $42.23. The company has a quick ratio of 1.14, a current ratio of 1.64 and a debt-to-equity ratio of 0.99. The firm has a fifty day moving average of $23.00 and a 200 day moving average of $24.03.

Norbord (NYSE:OSB) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. Norbord had a net margin of 4.31% and a return on equity of 16.27%. The business had revenue of $447.00 million for the quarter, compared to analyst estimates of $466.51 million. During the same period in the prior year, the firm posted $1.92 EPS. The company’s revenue was down 36.8% on a year-over-year basis. Analysts expect that Norbord Inc will post 0.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, August 30th will be issued a $0.303 dividend. This is a positive change from Norbord’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $1.21 annualized dividend and a yield of 4.96%. Norbord’s dividend payout ratio (DPR) is presently 25.42%.

Several equities research analysts have issued reports on the stock. BMO Capital Markets raised shares of Norbord from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $26.00 to $28.00 in a research note on Friday, June 14th. Raymond James reaffirmed a “buy” rating and set a $41.00 price target on shares of Norbord in a research note on Tuesday, July 16th. Royal Bank of Canada reaffirmed an “average” rating and set a $40.00 price target on shares of Norbord in a research note on Tuesday, July 9th. Zacks Investment Research cut shares of Norbord from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. Finally, ValuEngine upgraded shares of Norbord from a “hold” rating to a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Norbord has a consensus rating of “Buy” and a consensus target price of $34.33.

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.

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Institutional Ownership by Quarter for Norbord (NYSE:OSB)

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