Owens Corning Inc $OC Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in Owens Corning Inc (NYSE:OC) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,765,729 shares of the construction company’s stock after buying an additional 84,096 shares during the period. Vanguard Group Inc. owned approximately 0.12% of Owens Corning worth $1,092,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of OC. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Owens Corning in the 4th quarter valued at $37,000. Root Financial Partners LLC acquired a new position in shares of Owens Corning in the 3rd quarter valued at $39,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Owens Corning in the 3rd quarter valued at $42,000. SJS Investment Consulting Inc. increased its holdings in shares of Owens Corning by 3,766.7% in the 3rd quarter. SJS Investment Consulting Inc. now owns 348 shares of the construction company’s stock valued at $49,000 after acquiring an additional 339 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in shares of Owens Corning in the 4th quarter valued at $49,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OC has been the topic of a number of recent research reports. Evercore set a $130.00 target price on shares of Owens Corning in a report on Friday, April 24th. Citigroup lowered their price objective on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research report on Friday, March 27th. Argus upgraded shares of Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada set a $143.00 price objective on shares of Owens Corning in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.09.

Owens Corning Stock Performance

NYSE:OC opened at $122.58 on Friday. The firm’s fifty day moving average price is $114.25 and its 200 day moving average price is $117.22. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.70. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of -19.15, a price-to-earnings-growth ratio of 2.09 and a beta of 1.35.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, February 25th. The construction company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the business earned $3.22 earnings per share. The business’s quarterly revenue was down 16.8% on a year-over-year basis. On average, sell-side analysts expect that Owens Corning Inc will post 9.45 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Monday, March 9th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, March 9th. Owens Corning’s payout ratio is presently -49.38%.

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.