Hantz Financial Services Inc. Buys 2,304 Shares of Owens Corning Inc $OC

Hantz Financial Services Inc. boosted its stake in Owens Corning Inc (NYSE:OC) by 5,236.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,348 shares of the construction company’s stock after purchasing an additional 2,304 shares during the quarter. Hantz Financial Services Inc.’s holdings in Owens Corning were worth $323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in OC. OneDigital Investment Advisors LLC raised its stake in Owens Corning by 33.3% in the first quarter. OneDigital Investment Advisors LLC now owns 1,639 shares of the construction company’s stock valued at $234,000 after purchasing an additional 409 shares in the last quarter. Nordea Investment Management AB grew its stake in 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 worth $305,291,000 after buying an additional 15,927 shares in the last quarter. Financial Partners Group LLC increased its holdings in shares of Owens Corning by 23.2% in the 2nd quarter. Financial Partners Group LLC now owns 11,994 shares of the construction company’s stock worth $1,649,000 after buying an additional 2,259 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Owens Corning by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 393,768 shares of the construction company’s stock valued at $56,238,000 after buying an additional 1,737 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of 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 buying an additional 5,819 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Vertical Research began coverage on Owens Corning in a research note on Monday, October 20th. They issued a “hold” rating on the stock. Truist Financial reduced their price objective on Owens Corning from $165.00 to $135.00 and set a “hold” rating on the stock in a research report on Thursday, October 9th. UBS Group dropped their target price on Owens Corning from $218.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Royal Bank Of Canada cut 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. Finally, Jefferies Financial Group decreased their price target on shares of Owens Corning from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Owens Corning has an average rating of “Moderate Buy” and a consensus price target of $178.31.

Owens Corning Price Performance

OC opened at $127.24 on Monday. 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’s 50 day simple moving average is $140.21 and its 200 day simple moving average is $140.78. The firm has a market cap of $10.64 billion, a price-to-earnings ratio of 33.05, a PEG ratio of 9.10 and a beta of 1.32. Owens Corning Inc has a 1 year low of $123.02 and a 1 year high of $214.53.

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, beating analysts’ consensus estimates of $3.80 by $0.41. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the firm posted $4.64 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, 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 disclosed 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 is Monday, October 20th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.2%. Owens Corning’s payout ratio is presently 71.69%.

About Owens Corning

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.