Vanguard Personalized Indexing Management LLC Boosts Holdings in Owens Corning Inc $OC

Vanguard Personalized Indexing Management LLC raised its position in Owens Corning Inc (NYSE:OC) by 5.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,043 shares of the construction company’s stock after acquiring an additional 1,443 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Owens Corning were worth $3,582,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its position in shares of Owens Corning by 33.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 1,639 shares of the construction company’s stock worth $234,000 after purchasing an additional 409 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Owens Corning by 11.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,921 shares of the construction company’s stock worth $4,416,000 after purchasing an additional 3,298 shares in the last quarter. Moran Wealth Management LLC boosted its position in shares of Owens Corning by 31.4% during the 1st quarter. Moran Wealth Management LLC now owns 140,568 shares of the construction company’s stock worth $20,076,000 after purchasing an additional 33,631 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Owens Corning by 21.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,720 shares of the construction company’s stock worth $1,245,000 after purchasing an additional 1,558 shares in the last quarter. Finally, Principal Financial Group Inc. boosted 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 worth $56,238,000 after purchasing an additional 1,737 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Owens Corning in a research report on Wednesday, October 8th. Jefferies Financial Group cut their target price on shares of Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Wells Fargo & Company boosted their target price on shares of Owens Corning from $170.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Evercore ISI cut their target price on shares of 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, Truist Financial cut 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. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $178.31.

Owens Corning Price Performance

Owens Corning stock opened at $128.15 on Wednesday. Owens Corning Inc has a 1 year low of $123.23 and a 1 year high of $214.53. The firm has a 50 day moving average price of $146.00 and a 200 day moving average price of $141.64. The company has a market cap of $10.72 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 9.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.41. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm earned $4.64 earnings per share. Owens Corning’s revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

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 of this dividend is Monday, October 20th. This represents a $2.76 annualized dividend and a yield of 2.2%. Owens Corning’s dividend payout ratio (DPR) is 71.69%.

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.