Yousif Capital Management LLC Sells 681 Shares of Owens Corning Inc $OC

Yousif Capital Management LLC lowered its stake in shares of Owens Corning Inc (NYSE:OCFree Report) by 2.2% in the second quarter, Holdings Channel reports. The firm owned 30,630 shares of the construction company’s stock after selling 681 shares during the period. Yousif Capital Management LLC’s holdings in Owens Corning were worth $4,212,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Owens Corning by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 9,815,685 shares of the construction company’s stock valued at $1,401,876,000 after purchasing an additional 1,053,855 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Owens Corning by 67.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,380,123 shares of the construction company’s stock valued at $339,930,000 after purchasing an additional 957,295 shares during the period. LSV Asset Management boosted its stake in Owens Corning by 1.9% during the 1st quarter. LSV Asset Management now owns 1,476,067 shares of the construction company’s stock valued at $210,812,000 after purchasing an additional 27,185 shares during the period. Bank of New York Mellon Corp boosted its stake in Owens Corning by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 865,665 shares of the construction company’s stock valued at $123,634,000 after purchasing an additional 5,819 shares during the period. Finally, Millennium Management LLC boosted its stake in Owens Corning by 179.0% during the 1st quarter. Millennium Management LLC now owns 863,230 shares of the construction company’s stock valued at $123,287,000 after purchasing an additional 553,864 shares during the period. Institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

Shares of OC stock opened at $127.42 on Thursday. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $10.66 billion, a P/E ratio of 33.10, a P/E/G ratio of 9.32 and a beta of 1.32. Owens Corning Inc has a 12 month low of $123.23 and a 12 month high of $214.53. The stock has a 50 day moving average of $145.59 and a two-hundred day moving average of $141.54.

Owens Corning (NYSE:OCGet Free Report) last posted its earnings results on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, topping the consensus estimate of $3.80 by $0.41. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.Owens Corning’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $4.64 EPS. As a group, equities analysts expect that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Monday, October 20th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, October 20th. Owens Corning’s dividend payout ratio (DPR) is 71.69%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group decreased their target price on Owens Corning from $218.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Owens Corning in a research note on Wednesday, October 8th. Royal Bank Of Canada decreased their target price on Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Jefferies Financial Group decreased their target price on Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Finally, Barclays raised their price objective on Owens Corning from $167.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

Read Our Latest Stock Analysis on OC

About Owens Corning

(Free Report)

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.

See Also

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

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