Paradiem LLC Has $4.01 Million Stock Holdings in Owens Corning Inc $OC

Paradiem LLC decreased its holdings in shares of Owens Corning Inc (NYSE:OC) by 61.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,846 shares of the construction company’s stock after selling 58,221 shares during the quarter. Owens Corning accounts for approximately 1.0% of Paradiem LLC’s holdings, making the stock its 28th biggest position. Paradiem LLC’s holdings in Owens Corning were worth $4,012,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Ariel Investments LLC raised its holdings in shares of Owens Corning by 24.8% during the second quarter. Ariel Investments LLC now owns 140,449 shares of the construction company’s stock worth $19,315,000 after acquiring an additional 27,871 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in Owens Corning by 231.4% in the third quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock valued at $6,909,000 after purchasing an additional 34,106 shares in the last quarter. JPMorgan Chase & Co. increased its position in Owens Corning by 6.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 456,952 shares of the construction company’s stock worth $62,840,000 after purchasing an additional 28,814 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Owens Corning by 6.1% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 42,020 shares of the construction company’s stock worth $5,779,000 after purchasing an additional 2,421 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of Owens Corning during the 3rd quarter valued at about $1,742,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Trading Down 4.2%

Owens Corning stock opened at $103.36 on Friday. 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 firm has a market capitalization of $8.31 billion, a PE ratio of -16.15, a PEG ratio of 1.75 and a beta of 1.35. The business’s 50-day simple moving average is $122.26 and its 200-day simple moving average is $123.57.

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

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Monday, March 9th will be issued 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 3.1%. Owens Corning’s dividend payout ratio is -49.38%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on OC shares. Royal Bank Of Canada set a $143.00 price objective on shares of Owens Corning in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 29th. 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 research report on Thursday, February 26th. Barclays boosted their price target on Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Finally, Zacks Research downgraded Owens Corning from a “hold” rating to a “strong sell” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.58.

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.