Nisa Investment Advisors LLC Acquires 4,880 Shares of Owens Corning Inc $OC

Nisa Investment Advisors LLC boosted its position in Owens Corning Inc (NYSE:OC) by 126.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,740 shares of the construction company’s stock after acquiring an additional 4,880 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Owens Corning were worth $1,236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Twin Peaks Wealth Advisors LLC purchased a new stake in Owens Corning during the 2nd quarter valued at $26,000. Rexford Capital Inc. purchased a new position in Owens Corning during the 2nd quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Owens Corning in the 2nd quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC grew its stake 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 worth $31,000 after acquiring an additional 133 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new stake in Owens Corning during the 2nd quarter valued at about $37,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Up 1.2%

NYSE:OC opened at $123.52 on Thursday. 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 company has a market cap of $10.15 billion, a price-to-earnings ratio of -21.59, a price-to-earnings-growth ratio of 11.64 and a beta of 1.35. The stock has a fifty day simple moving average of $111.31 and a 200-day simple moving average of $131.02. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $192.96.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 5th. The construction company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.03. Owens Corning had a positive return on equity of 24.42% and a negative net margin of 4.46%.The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the prior year, the business earned $4.38 earnings per share. Owens Corning’s revenue was down 2.9% on a year-over-year basis. Analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Monday, January 5th will be paid a dividend of $0.79 per share. This is an increase from Owens Corning’s previous quarterly dividend of $0.69. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, January 5th. Owens Corning’s dividend payout ratio is presently -55.24%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Vertical Research began coverage on Owens Corning in a research report on Monday, October 20th. They issued a “hold” rating on the stock. Citigroup lowered their price target on Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Truist Financial lowered their target price on shares of Owens Corning from $165.00 to $135.00 and set a “hold” rating on the stock in a research note on Thursday, October 9th. Evercore ISI reduced their price target on shares of Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a research note on Thursday, December 4th. Finally, JPMorgan Chase & Co. reduced their price objective on Owens Corning from $157.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.08.

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.