Mitsubishi UFJ Trust & Banking Corp Has $12.75 Million Holdings in Owens Corning Inc $OC

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Owens Corning Inc (NYSE:OC) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,117 shares of the construction company’s stock after selling 6,469 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Owens Corning were worth $12,748,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. TrueMark Investments LLC acquired a new position in shares of Owens Corning during the 3rd quarter worth about $3,782,000. Rakuten Investment Management Inc. bought a new position in Owens Corning in the 3rd quarter worth approximately $8,135,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Owens Corning by 61.9% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 76,541 shares of the construction company’s stock worth $10,827,000 after buying an additional 29,258 shares during the last quarter. Inscription Capital LLC bought a new stake in shares of Owens Corning in the third quarter valued at approximately $1,056,000. Finally, Root Financial Partners LLC bought a new stake in shares of Owens Corning in the third quarter valued at approximately $39,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OC. Argus raised shares of Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Barclays boosted their price objective on shares of Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Truist Financial reduced their target price on shares of Owens Corning from $165.00 to $135.00 and set a “hold” rating for the company in a research note on Thursday, October 9th. Citigroup lowered their price target on Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.75.

Owens Corning Stock Performance

NYSE:OC opened at $121.17 on Wednesday. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $192.64. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $9.96 billion, a PE ratio of -21.18, a price-to-earnings-growth ratio of 2.54 and a beta of 1.35. The firm has a 50-day moving average price of $115.15 and a 200 day moving average price of $129.57.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.03. Owens Corning had a positive return on equity of 24.42% and a negative net margin of 4.46%.The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the company posted $4.38 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. Research analysts anticipate that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Monday, January 5th were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.6%. This is a boost from Owens Corning’s previous quarterly dividend of $0.69. The ex-dividend date was Monday, January 5th. Owens Corning’s dividend payout ratio (DPR) is presently -55.24%.

About Owens Corning

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.