Hixon Zuercher LLC Has $1.23 Million Holdings in Owens Corning Inc $OC

Hixon Zuercher LLC boosted its holdings in shares of Owens Corning Inc (NYSE:OC) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,917 shares of the construction company’s stock after acquiring an additional 353 shares during the quarter. Hixon Zuercher LLC’s holdings in Owens Corning were worth $1,226,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in OC. Bangor Savings Bank acquired a new stake in shares of Owens Corning in the second quarter worth $28,000. Ameritas Advisory Services LLC acquired a new stake in Owens Corning during the second quarter worth $42,000. Wayfinding Financial LLC bought a new stake in Owens Corning in the first quarter valued at about $60,000. IFP Advisors Inc grew its stake in shares of Owens Corning by 76.0% in the 2nd quarter. IFP Advisors Inc now owns 461 shares of the construction company’s stock valued at $63,000 after purchasing an additional 199 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in Owens Corning by 61.7% during the first quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock worth $69,000 after acquiring an additional 184 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Down 0.6%

NYSE OC opened at $127.87 on Friday. The stock has a 50 day moving average of $142.69 and a 200-day moving average of $141.19. Owens Corning Inc has a 12 month low of $123.23 and a 12 month high of $214.53. The company has a market cap of $10.69 billion, a PE ratio of 33.21, a PEG ratio of 9.33 and a beta of 1.32. 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 released its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.41. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. Owens Corning’s revenue for the quarter 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. On average, equities research analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada cut their target price on shares of Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Zacks Research downgraded shares of Owens Corning from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Truist Financial reduced their target price on Owens Corning from $165.00 to $135.00 and set a “hold” rating on the stock in a report on Thursday, October 9th. Evercore ISI decreased their target price 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. Finally, UBS Group dropped their price objective on shares of Owens Corning from $218.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and a consensus price target 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.