Owens Corning Inc $OC Shares Sold by Korea Investment CORP

Korea Investment CORP reduced its holdings in shares of Owens Corning Inc (NYSE:OC) by 10.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 64,774 shares of the construction company’s stock after selling 7,909 shares during the period. Korea Investment CORP owned approximately 0.08% of Owens Corning worth $9,163,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ossiam grew its holdings in shares of Owens Corning by 5.9% during the second quarter. Ossiam now owns 1,254 shares of the construction company’s stock worth $172,000 after buying an additional 70 shares during the last quarter. Pitcairn Co. increased its position in Owens Corning by 4.6% in the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock valued at $250,000 after acquiring an additional 80 shares during the period. Archer Investment Corp raised its stake in Owens Corning by 13.3% during the 3rd quarter. Archer Investment Corp now owns 748 shares of the construction company’s stock valued at $106,000 after acquiring an additional 88 shares during the last quarter. Brown Advisory Inc. lifted its position in Owens Corning by 0.8% during the 2nd quarter. Brown Advisory Inc. now owns 11,847 shares of the construction company’s stock worth $1,629,000 after acquiring an additional 96 shares during the period. Finally, Assetmark Inc. lifted its position in Owens Corning by 51.0% during the 2nd quarter. Assetmark Inc. now owns 299 shares of the construction company’s stock worth $41,000 after acquiring an additional 101 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Stock Up 1.1%

NYSE OC opened at $107.39 on Thursday. The stock has a market capitalization of $8.63 billion, a P/E ratio of -16.78, a price-to-earnings-growth ratio of 1.72 and a beta of 1.35. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.70 and a current ratio of 1.26. The stock has a fifty day moving average of $123.21 and a 200-day moving average of $125.31.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.26). The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. Owens Corning’s revenue was down 16.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.22 EPS. On average, equities research analysts forecast that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Monday, March 9th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a yield of 2.9%. Owens Corning’s dividend payout ratio (DPR) is presently -49.38%.

Analyst Ratings Changes

OC has been the topic of a number of recent research reports. UBS Group boosted their target price on Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Zacks Research raised shares of Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Wells Fargo & Company raised their price target on shares of Owens Corning from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. Argus raised Owens Corning to a “strong-buy” rating in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada set a $143.00 price objective on Owens Corning in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.58.

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.