Pzena Investment Management LLC Has $10,856,000 Position in Owens Corning (OC)
Pzena Investment Management LLC maintained its stake in shares of Owens Corning (NYSE:OC) during the third quarter, according to its most recent disclosure with the SEC. The firm owned 203,330 shares of the company’s stock at the end of the third quarter. Pzena Investment Management LLC owned about 0.18% of Owens Corning worth $10,856,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in OC. Tower Research Capital LLC TRC purchased a new position in shares of Owens Corning during the second quarter worth $171,000. CIBC Asset Management Inc bought a new position in shares of Owens Corning during the third quarter worth approximately $200,000. Societe Generale bought a new position in shares of Owens Corning during the second quarter worth approximately $208,000. BB&T Corp bought a new position in shares of Owens Corning during the third quarter worth approximately $221,000. Finally, Ingalls & Snyder LLC bought a new position in shares of Owens Corning during the second quarter worth approximately $224,000.
Shares of Owens Corning (NYSE:OC) traded down 0.36% during trading on Tuesday, hitting $52.90. The stock had a trading volume of 468,073 shares. Owens Corning has a one year low of $38.96 and a one year high of $58.69. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 14.81 and a beta of 1.15. The stock’s 50-day moving average price is $50.75 and its 200 day moving average price is $52.14.
Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, October 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.10. Owens Corning had a net margin of 7.44% and a return on equity of 10.77%. The company earned $1.52 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned $0.96 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that Owens Corning will post $3.51 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 2nd. Shareholders of record on Monday, October 17th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Thursday, October 13th. Owens Corning’s dividend payout ratio (DPR) is 20.17%.
A number of research analysts have commented on OC shares. Zacks Investment Research cut Owens Corning from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Wells Fargo & Co. started coverage on Owens Corning in a research note on Thursday, September 29th. They set a “market perform” rating on the stock. CL King cut Owens Corning from a “buy” rating to a “neutral” rating in a research note on Thursday, October 27th. Bank of America Corp. started coverage on Owens Corning in a research note on Friday, September 23rd. They set a “neutral” rating and a $59.00 price objective on the stock. Finally, Vertical Group upgraded Owens Corning from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Thursday, October 27th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $55.24.
Owens Corning Company Profile
Owens Corning is a holding company, which is engaged in the business of composite and building materials systems. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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