Owens Corning Inc $OC Shares Bought by Boothbay Fund Management LLC

Boothbay Fund Management LLC grew its holdings in shares of Owens Corning Inc (NYSE:OC) by 130.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,295 shares of the construction company’s stock after purchasing an additional 46,022 shares during the period. Boothbay Fund Management LLC owned approximately 0.10% of Owens Corning worth $11,500,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Owens Corning in the 2nd quarter worth approximately $163,719,000. First Trust Advisors LP boosted its holdings in Owens Corning by 164.6% during the second quarter. First Trust Advisors LP now owns 920,726 shares of the construction company’s stock worth $126,618,000 after buying an additional 572,770 shares in the last quarter. Clean Energy Transition LLP acquired a new position in Owens Corning in the third quarter worth approximately $75,203,000. Amundi grew its position in Owens Corning by 92.9% in the second quarter. Amundi now owns 1,086,735 shares of the construction company’s stock worth $157,279,000 after buying an additional 523,376 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Owens Corning by 99.4% in the third quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company’s stock valued at $128,917,000 after buying an additional 454,382 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

OC has been the subject of several research reports. Citigroup reduced their price objective on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Wells Fargo & Company upped their target price on Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Royal Bank Of Canada set a $143.00 price target on Owens Corning in a research note on Friday, January 9th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $151.58.

Owens Corning Price Performance

Shares of NYSE:OC opened at $106.48 on Friday. The company’s fifty day moving average is $122.88 and its two-hundred day moving average is $124.63. The company has a market cap of $8.56 billion, a P/E ratio of -16.64, a price-to-earnings-growth ratio of 1.72 and a beta of 1.35. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.42. The company has a quick ratio of 0.70, a current ratio of 1.26 and a debt-to-equity ratio of 1.20.

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

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders 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 yield of 3.0%. The ex-dividend date of this dividend is Monday, March 9th. Owens Corning’s payout ratio is -49.38%.

Owens Corning Company 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.