Vanguard Group Inc. Sells 265,847 Shares of Owens Corning Inc $OC

Vanguard Group Inc. lessened its stake in Owens Corning Inc (NYSE:OC) by 2.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,681,633 shares of the construction company’s stock after selling 265,847 shares during the quarter. Vanguard Group Inc. owned 0.12% of Owens Corning worth $1,369,564,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new stake in Owens Corning in the 2nd quarter valued at $26,000. Rexford Capital Inc. acquired a new stake in shares of Owens Corning in the 2nd quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Owens Corning in the second quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of 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 in the last quarter. Finally, Chilton Capital Management LLC acquired a new position in shares of Owens Corning during the second quarter worth about $37,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Price Performance

NYSE:OC opened at $132.74 on Friday. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $173.63. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.05. The firm has a fifty day simple moving average of $122.50 and a 200 day simple moving average of $128.39. The stock has a market capitalization of $10.91 billion, a PE ratio of -23.21, a P/E/G ratio of 2.76 and a beta of 1.36.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be paid 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%.

Analyst Ratings Changes

OC has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. Wells Fargo & Company lifted their price objective on shares of Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Zacks Research raised shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. JPMorgan Chase & Co. decreased their target price 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. Finally, Citigroup lowered their price target on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.58.

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.