Owens Corning Inc $OC Shares Acquired by Paradiem LLC

Paradiem LLC increased its stake in shares of Owens Corning Inc (NYSE:OC) by 942.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,067 shares of the construction company’s stock after purchasing an additional 85,047 shares during the quarter. Owens Corning accounts for approximately 3.1% of Paradiem LLC’s holdings, making the stock its 13th biggest position. Paradiem LLC owned approximately 0.11% of Owens Corning worth $13,307,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC purchased a new position in Owens Corning during the 2nd quarter worth $26,000. Bangor Savings Bank acquired a new position in shares of Owens Corning during the second quarter worth about $28,000. Rexford Capital Inc. acquired a new position in shares of Owens Corning during the second quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Owens Corning during the second quarter worth about $30,000. Finally, Vermillion & White Wealth Management Group LLC lifted its position in Owens Corning by 149.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock valued at $31,000 after purchasing an additional 133 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OC has been the topic of a number of analyst reports. Zacks Research lowered Owens Corning from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Evercore ISI reduced their price target on Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a report on Monday, December 22nd. Vertical Research assumed coverage on Owens Corning in a research report on Monday, October 20th. They issued a “hold” rating for the company. Finally, Royal Bank Of Canada decreased their target price on shares of Owens Corning from $174.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Owens Corning presently has an average rating of “Hold” and a consensus price target of $155.58.

Owens Corning Stock Performance

Shares of OC stock opened at $113.64 on Friday. The stock has a fifty day moving average price of $113.65 and a 200 day moving average price of $132.73. The stock has a market cap of $9.34 billion, a PE ratio of -19.87, a P/E/G ratio of 9.16 and a beta of 1.34. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $192.96. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.86 and a current ratio of 1.40.

Owens Corning (NYSE:OC) last posted its earnings results 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 quarter in the prior year, the company earned $4.38 earnings per share. Owens Corning’s revenue was down 2.9% compared to the same quarter last year. Sell-side analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Monday, January 5th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from Owens Corning’s previous quarterly dividend of $0.69. Owens Corning’s dividend payout ratio is currently -48.25%.

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.