Chicago Partners Investment Group LLC Has $545,000 Position in Owens Corning Inc $OC

Chicago Partners Investment Group LLC lifted its stake in shares of Owens Corning Inc (NYSE:OC) by 79.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,722 shares of the construction company’s stock after purchasing an additional 1,643 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Owens Corning were worth $545,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of OC. OneDigital Investment Advisors LLC boosted its position in shares of Owens Corning by 33.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 1,639 shares of the construction company’s stock worth $234,000 after acquiring an additional 409 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Owens Corning by 11.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,921 shares of the construction company’s stock valued at $4,416,000 after purchasing an additional 3,298 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Owens Corning by 0.7% in the 2nd quarter. Nordea Investment Management AB now owns 2,225,800 shares of the construction company’s stock valued at $305,291,000 after purchasing an additional 15,927 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Owens Corning by 21.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,720 shares of the construction company’s stock valued at $1,245,000 after purchasing an additional 1,558 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Owens Corning by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 393,768 shares of the construction company’s stock valued at $56,238,000 after purchasing an additional 1,737 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Price Performance

Shares of NYSE:OC opened at $126.75 on Thursday. The firm has a market cap of $10.60 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 9.50 and a beta of 1.32. Owens Corning Inc has a 52 week low of $123.23 and a 52 week high of $214.53. The firm’s fifty day moving average is $143.60 and its 200-day moving average is $141.08. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52.

Owens Corning (NYSE:OC) last announced 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 firm had revenue of $2.75 billion for 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%.The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $4.64 EPS. Sell-side analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OC. Barclays raised their price objective on Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. UBS Group reduced their price target on shares of Owens Corning from $218.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Bank of America cut their target price on shares of Owens Corning from $180.00 to $168.00 and set a “buy” rating on the stock in a research report on Wednesday, October 1st. Truist Financial cut their target price on shares of Owens Corning from $165.00 to $135.00 and set a “hold” rating on the stock in a research report on Thursday, October 9th. Finally, Jefferies Financial Group lowered their target price on Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus target price of $178.31.

Owens Corning Company Profile

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.