Schroder Investment Management Group Boosts Position in Owens Corning Inc $OC

Schroder Investment Management Group boosted its stake in shares of Owens Corning Inc (NYSE:OC) by 9.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 550,775 shares of the construction company’s stock after purchasing an additional 47,524 shares during the period. Schroder Investment Management Group’s holdings in Owens Corning were worth $77,692,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Owens Corning during the second quarter worth approximately $26,000. Rexford Capital Inc. bought a new stake in shares of Owens Corning during the second quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Owens Corning in the second quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC boosted 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 during the period. Finally, Root Financial Partners LLC bought a new position in Owens Corning in the third quarter worth approximately $39,000. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank Of Canada set a $143.00 price objective on Owens Corning in a report on Friday, January 9th. Argus raised Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Barclays raised their price target on Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. UBS Group increased their target price 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. Finally, Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $151.58.

Owens Corning Trading Down 2.0%

Shares of NYSE OC opened at $107.54 on Tuesday. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.42. The business has a fifty day moving average price of $123.44 and a 200 day moving average price of $125.78. The stock has a market capitalization of $8.64 billion, a P/E ratio of -16.80, a price-to-earnings-growth ratio of 1.78 and a beta of 1.35. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.70.

Owens Corning (NYSE:OC) last posted its 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 company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 16.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.22 EPS. Equities research analysts expect that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, March 9th. Owens Corning’s payout ratio is -49.38%.

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.