IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases 3,145 Shares of Owens Corning Inc $OC

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Owens Corning Inc (NYSE:OC) by 30.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,567 shares of the construction company’s stock after buying an additional 3,145 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Owens Corning were worth $1,866,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Archer Investment Corp boosted its position in Owens Corning by 17.9% in the 1st quarter. Archer Investment Corp now owns 660 shares of the construction company’s stock valued at $94,000 after buying an additional 100 shares during the period. Resonant Capital Advisors LLC boosted its position in Owens Corning by 6.3% during the 1st 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 in the last quarter. 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 purchasing an additional 103 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Owens Corning by 7.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,823 shares of the construction company’s stock worth $260,000 after purchasing an additional 127 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised 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 buying an additional 141 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Stock Performance

Owens Corning stock opened at $127.00 on Wednesday. The firm has a 50 day simple moving average of $141.73 and a 200-day simple moving average of $141.04. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 9.31 and a beta of 1.32. Owens Corning Inc has a 1-year low of $123.23 and a 1-year high of $214.53.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.41. The company 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 company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.64 earnings per share. On average, analysts expect that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

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 given a $0.69 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $2.76 dividend on an annualized basis and a yield of 2.2%. Owens Corning’s payout ratio is presently 71.69%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Evercore ISI dropped their target price on shares of Owens Corning from $169.00 to $153.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 7th. Truist Financial dropped 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. Royal Bank Of Canada cut their price objective on shares of Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Owens Corning in a research note on Wednesday, October 8th. Finally, Bank of America reduced their price target on shares of Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a research report on Wednesday, October 1st. Ten investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $178.31.

Owens Corning 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.