Owens Corning Inc $OC Shares Purchased by Strs Ohio

Strs Ohio increased its stake in shares of Owens Corning Inc (NYSE:OC) by 11.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,050 shares of the construction company’s stock after purchasing an additional 1,274 shares during the quarter. Strs Ohio’s holdings in Owens Corning were worth $1,657,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in OC. Vanguard Group Inc. increased its holdings in shares of Owens Corning by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 9,815,685 shares of the construction company’s stock valued at $1,401,876,000 after purchasing an additional 1,053,855 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Owens Corning by 67.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,380,123 shares of the construction company’s stock valued at $339,930,000 after purchasing an additional 957,295 shares during the period. Nuveen LLC acquired a new stake in shares of Owens Corning in the first quarter valued at about $91,698,000. Millennium Management LLC lifted its stake in shares of Owens Corning by 179.0% in the first quarter. Millennium Management LLC now owns 863,230 shares of the construction company’s stock valued at $123,287,000 after purchasing an additional 553,864 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Owens Corning during the 2nd quarter valued at approximately $54,030,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America reduced their price target on shares of Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a research report on Wednesday, October 1st. Vertical Research assumed coverage on shares of Owens Corning in a research report on Monday, October 20th. They set a “hold” rating for the company. Zacks Research downgraded Owens Corning from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. UBS Group cut their price target on Owens Corning from $218.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Owens Corning in a research note on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $178.31.

Owens Corning Trading Down 1.4%

Owens Corning stock opened at $122.51 on Wednesday. The stock has a market cap of $10.25 billion, a PE ratio of 31.82, a P/E/G ratio of 9.10 and a beta of 1.32. The stock has a 50-day moving average price of $139.01 and a 200 day moving average price of $140.58. Owens Corning Inc has a 52 week low of $121.32 and a 52 week high of $214.53. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98.

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

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning’s payout ratio is presently 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.