Quantinno Capital Management LP Has $22.54 Million Stock Holdings in Owens Corning Inc $OC

Quantinno Capital Management LP lifted its position in shares of Owens Corning Inc (NYSE:OC) by 10.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 208,320 shares of the construction company’s stock after buying an additional 18,859 shares during the quarter. Quantinno Capital Management LP owned about 0.26% of Owens Corning worth $22,544,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of OC. Itau Unibanco Holding S.A. acquired a new stake in Owens Corning in the 4th quarter worth about $29,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Owens Corning in the first quarter valued at approximately $30,000. Harbour Investments Inc. boosted its stake in shares of Owens Corning by 66.5% in the fourth quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock valued at $36,000 after buying an additional 129 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Owens Corning during the fourth quarter worth approximately $37,000. Finally, Measured Wealth Private Client Group LLC bought a new position in Owens Corning during the 3rd quarter worth $42,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Evercore reiterated an “outperform” rating and set a $193.00 target price on shares of Owens Corning in a research report on Thursday, July 23rd. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Wednesday, July 15th. JPMorgan Chase & Co. raised their target price on shares of Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Bank of America cut their price target on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a report on Monday, April 20th. Finally, Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and an average target price of $157.92.

Owens Corning Trading Up 0.2%

OC opened at $139.13 on Friday. The company’s 50 day moving average is $133.95 and its 200-day moving average is $124.23. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.91. 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 company has a market cap of $11.20 billion, a P/E ratio of -21.05, a PEG ratio of 2.70 and a beta of 1.30.

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

Owens Corning Dividend Announcement

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

Insider Buying and Selling at Owens Corning

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the transaction, the insider directly owned 15,848 shares in the company, valued at approximately $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 the 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 completion of the transaction, the vice president owned 3,093 shares of the company’s stock, valued at $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.92% of the stock is currently owned by corporate insiders.

Owens Corning Company 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.