Rhumbline Advisers Trims Stake in Owens Corning Inc $OC

Rhumbline Advisers decreased its holdings in shares of Owens Corning Inc (NYSE:OC) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 240,352 shares of the construction company’s stock after selling 3,754 shares during the period. Rhumbline Advisers owned approximately 0.29% of Owens Corning worth $34,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baader Bank Aktiengesellschaft grew its holdings in shares of Owens Corning by 15.6% during the third quarter. Baader Bank Aktiengesellschaft now owns 2,930 shares of the construction company’s stock worth $414,000 after purchasing an additional 395 shares in the last quarter. Meixler Investment Management Ltd. increased its holdings in shares of Owens Corning by 30.4% in the 3rd quarter. Meixler Investment Management Ltd. now owns 2,107 shares of the construction company’s stock worth $298,000 after buying an additional 491 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Owens Corning by 11.3% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 15,101 shares of the construction company’s stock valued at $2,136,000 after buying an additional 1,534 shares in the last quarter. ABN AMRO Bank N.V. raised its position in shares of Owens Corning by 1.7% during the 3rd quarter. ABN AMRO Bank N.V. now owns 253,645 shares of the construction company’s stock valued at $35,765,000 after buying an additional 4,129 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in Owens Corning by 19.5% in the third quarter. Bessemer Group Inc. now owns 1,093 shares of the construction company’s stock worth $154,000 after acquiring an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on OC shares. Vertical Research initiated coverage on shares of Owens Corning in a research report on Monday, October 20th. They set a “hold” rating on the stock. Royal Bank Of Canada set a $143.00 target price on shares of Owens Corning in a research report on Friday, January 9th. JPMorgan Chase & Co. cut their price target on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Argus raised Owens Corning to a “strong-buy” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.58.

Owens Corning Trading Down 0.8%

NYSE OC opened at $134.16 on Friday. The stock has a market cap of $11.03 billion, a P/E ratio of -23.45, a price-to-earnings-growth ratio of 2.81 and a beta of 1.36. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $179.82. The stock has a 50 day simple moving average of $120.59 and a two-hundred day simple moving average of $128.50. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be given a dividend of $0.79 per share. The ex-dividend date is Monday, March 9th. This represents a $3.16 annualized dividend and a dividend yield of 2.4%. Owens Corning’s payout ratio is currently -55.24%.

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.