Lazard Freres Gestion S.A.S. Has $666,000 Stock Position in Owens Corning Inc $OC

Lazard Freres Gestion S.A.S. increased its holdings in shares of Owens Corning Inc (NYSE:OC) by 37.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,850 shares of the construction company’s stock after purchasing an additional 1,320 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in Owens Corning were worth $666,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Archer Investment Corp grew its stake in Owens Corning by 17.9% in the first quarter. Archer Investment Corp now owns 660 shares of the construction company’s stock valued at $94,000 after acquiring an additional 100 shares during the period. Resonant Capital Advisors LLC grew its stake in Owens Corning by 6.3% in the first quarter. Resonant Capital Advisors LLC now owns 1,745 shares of the construction company’s stock valued at $250,000 after acquiring an additional 103 shares during the period. CreativeOne Wealth LLC grew its stake in Owens Corning by 6.7% in the first quarter. CreativeOne Wealth LLC now owns 1,649 shares of the construction company’s stock valued at $236,000 after acquiring an additional 103 shares during the period. Sequoia Financial Advisors LLC grew its stake in Owens Corning by 7.5% in the first quarter. Sequoia Financial Advisors LLC now owns 1,823 shares of the construction company’s stock valued at $260,000 after acquiring an additional 127 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Owens Corning by 6.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,443 shares of the construction company’s stock valued at $349,000 after acquiring an additional 141 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on OC. Evercore ISI reduced their price objective on Owens Corning from $169.00 to $153.00 and set an “in-line” rating for the company in a research note on Tuesday, October 7th. Royal Bank Of Canada dropped their target price on Owens Corning from $184.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Wells Fargo & Company raised their target price on Owens Corning from $170.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Weiss Ratings restated a “hold (c)” rating on shares of Owens Corning in a report on Wednesday, October 8th. Finally, Bank of America dropped their target price on Owens Corning from $180.00 to $168.00 and set a “buy” rating on the stock in a report on Wednesday, October 1st. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $178.31.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $128.69 on Friday. The business’s fifty day simple moving average is $143.13 and its 200 day simple moving average is $141.07. The firm has a market capitalization of $10.76 billion, a P/E ratio of 33.43, a price-to-earnings-growth ratio of 9.27 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 company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.41. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.Owens Corning’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company posted $4.64 earnings per share. As a group, analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be paid a $0.69 dividend. The ex-dividend date is Monday, October 20th. This represents a $2.76 annualized dividend and a dividend yield of 2.1%. Owens Corning’s payout ratio is presently 71.69%.

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.