Gotham Asset Management LLC Has $46.10 Million Position in Owens Corning Inc $OC

Gotham Asset Management LLC lifted its position in Owens Corning Inc (NYSE:OC) by 123.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,866 shares of the construction company’s stock after buying an additional 180,244 shares during the period. Gotham Asset Management LLC’s holdings in Owens Corning were worth $46,097,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OC. Vanguard Group Inc. raised its position in shares of Owens Corning by 1.3% during the second quarter. Vanguard Group Inc. now owns 9,947,480 shares of the construction company’s stock worth $1,367,977,000 after purchasing an additional 131,795 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Owens Corning by 6.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,930,632 shares of the construction company’s stock valued at $273,101,000 after purchasing an additional 110,452 shares during the period. LSV Asset Management increased its stake in Owens Corning by 0.3% during the 3rd quarter. LSV Asset Management now owns 1,449,562 shares of the construction company’s stock worth $205,055,000 after purchasing an additional 4,370 shares in the last quarter. AQR Capital Management LLC increased its stake in Owens Corning by 27.9% during the 3rd quarter. AQR Capital Management LLC now owns 1,228,640 shares of the construction company’s stock worth $173,201,000 after purchasing an additional 268,036 shares in the last quarter. Finally, Norges Bank acquired a new stake in Owens Corning during the 2nd quarter worth approximately $163,719,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Up 3.3%

Shares of OC stock opened at $106.48 on Monday. 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 firm’s 50-day moving average is $122.88 and its 200-day moving average is $124.42. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of -16.64, a PEG 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.

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

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, March 9th. Owens Corning’s dividend payout ratio (DPR) is presently -49.38%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, January 8th. UBS Group raised their price objective on shares of Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Barclays upped their target price on shares of Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Royal Bank Of Canada set a $143.00 target price on Owens Corning in a report on Friday, January 9th. Finally, Evercore dropped their price target on Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and an average price target of $151.58.

About Owens Corning

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.