Nomura Asset Management Co. Ltd. Continues to Hold Position in Owens Corning Inc (NYSE:OC)

Nomura Asset Management Co. Ltd. maintained its stake in Owens Corning Inc (NYSE:OC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,790 shares of the construction company’s stock at the end of the first quarter. Nomura Asset Management Co. Ltd.’s holdings in Owens Corning were worth $110,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of OC. Point72 Asia Hong Kong Ltd increased its stake in Owens Corning by 457.1% in the first quarter. Point72 Asia Hong Kong Ltd now owns 2,301 shares of the construction company’s stock valued at $141,000 after buying an additional 1,888 shares in the last quarter. IFP Advisors Inc increased its stake in Owens Corning by 45.3% in the first quarter. IFP Advisors Inc now owns 2,558 shares of the construction company’s stock valued at $157,000 after buying an additional 798 shares in the last quarter. Penserra Capital Management LLC increased its stake in Owens Corning by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,668 shares of the construction company’s stock valued at $163,000 after buying an additional 232 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Owens Corning during the first quarter valued at approximately $203,000. Finally, Courier Capital LLC acquired a new stake in Owens Corning during the first quarter valued at approximately $209,000.

Shares of Owens Corning Inc (NYSE OC) opened at 64.76 on Friday. The company has a market cap of $7.25 billion, a price-to-earnings ratio of 16.98 and a beta of 1.11. The stock has a 50 day moving average of $65.55 and a 200 day moving average of $60.59. Owens Corning Inc has a 1-year low of $46.45 and a 1-year high of $67.74.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, April 26th. The construction company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.61 by $0.24. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.31 billion. Owens Corning had a return on equity of 11.56% and a net margin of 7.38%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. On average, equities analysts forecast that Owens Corning Inc will post $4.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, July 13th. Owens Corning’s dividend payout ratio is currently 21.00%.

COPYRIGHT VIOLATION WARNING: This report was originally published by Transcript Daily and is the property of of Transcript Daily. If you are viewing this report on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this report can be viewed at https://transcriptdaily.com/2017/07/23/nomura-asset-management-co-ltd-continues-to-hold-position-in-owens-corning-inc-nyseoc.html.

OC has been the topic of several recent research reports. BidaskClub upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Royal Bank Of Canada restated a “buy” rating and issued a $71.00 price target on shares of Owens Corning in a research report on Monday, June 19th. Instinet restated a “buy” rating and issued a $74.00 price target on shares of Owens Corning in a research report on Thursday, June 1st. Stifel Nicolaus boosted their price target on shares of Owens Corning from $64.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Finally, Jefferies Group LLC boosted their price target on shares of Owens Corning from $71.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $66.80.

In other news, insider Arnaud Genis sold 21,544 shares of Owens Corning stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $65.44, for a total value of $1,409,839.36. Following the completion of the transaction, the insider now owns 80,143 shares of the company’s stock, valued at approximately $5,244,557.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James J. Mcmonagle sold 2,000 shares of Owens Corning stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $64.60, for a total value of $129,200.00. Following the completion of the transaction, the director now directly owns 50,906 shares of the company’s stock, valued at approximately $3,288,527.60. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Owens Corning Company Profile

Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.

Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning Inc (NYSE:OC).

Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

Receive News & Ratings for Owens Corning Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply