Lodge Hill Capital LLC Has $39.35 Million Stock Position in Owens Corning Inc $OC

Lodge Hill Capital LLC boosted its stake in shares of Owens Corning Inc (NYSE:OC) by 14.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 363,570 shares of the construction company’s stock after acquiring an additional 45,000 shares during the quarter. Owens Corning comprises about 5.8% of Lodge Hill Capital LLC’s investment portfolio, making the stock its 2nd biggest position. Lodge Hill Capital LLC’s holdings in Owens Corning were worth $39,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Louisiana State Employees Retirement System purchased a new stake in Owens Corning during the 1st quarter valued at $2,576,000. Banque Pictet & Cie SA boosted its stake in Owens Corning by 5.0% during the fourth quarter. Banque Pictet & Cie SA now owns 412,579 shares of the construction company’s stock worth $46,172,000 after buying an additional 19,553 shares during the period. BNP Paribas Financial Markets boosted its stake in Owens Corning by 178.2% during the fourth quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company’s stock worth $20,888,000 after buying an additional 119,566 shares during the period. Raiffeisen Bank International AG increased its position in Owens Corning by 12.4% during the fourth quarter. Raiffeisen Bank International AG now owns 353,302 shares of the construction company’s stock valued at $39,976,000 after acquiring an additional 38,885 shares during the last quarter. Finally, Systematic Financial Management LP increased its position in Owens Corning by 10.8% during the fourth quarter. Systematic Financial Management LP now owns 244,437 shares of the construction company’s stock valued at $27,355,000 after acquiring an additional 23,873 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Down 4.7%

Shares of OC opened at $136.38 on Thursday. The firm has a fifty day moving average price of $133.05 and a 200-day moving average price of $124.01. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $10.98 billion, a P/E ratio of -20.63, a P/E/G ratio of 2.78 and a beta of 1.30. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.91.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the firm posted $2.97 EPS. The firm’s revenue was down 10.5% compared to the same quarter last year. Equities research analysts expect that Owens Corning Inc will post 9.55 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 20th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.3%. Owens Corning’s dividend payout ratio (DPR) is -47.81%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Evercore restated an “outperform” rating and issued a $193.00 target price on shares of Owens Corning in a report on Thursday, July 23rd. Royal Bank Of Canada upped their price target on shares of Owens Corning from $148.00 to $172.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Weiss Ratings raised shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, Bank of America dropped their target price on Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.92.

Insider Activity at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the transaction, the insider owned 15,848 shares of the company’s stock, valued at $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of Owens Corning stock in a transaction on Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the sale, the vice president directly owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.92% of the company’s stock.

Owens Corning Profile

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.