Lbp Am Sa Boosts Position in Owens Corning Inc $OC

Lbp Am Sa lifted its holdings in shares of Owens Corning Inc (NYSE:OC) by 81.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,624 shares of the construction company’s stock after purchasing an additional 14,237 shares during the period. Lbp Am Sa’s holdings in Owens Corning were worth $4,474,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. grew its holdings in shares of Owens Corning by 61.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock worth $69,000 after purchasing an additional 184 shares during the period. Sivia Capital Partners LLC acquired a new position in Owens Corning in the second quarter worth about $277,000. Greenleaf Trust boosted its holdings in Owens Corning by 33.6% in the second quarter. Greenleaf Trust now owns 5,125 shares of the construction company’s stock worth $705,000 after purchasing an additional 1,288 shares during the period. Truist Financial Corp boosted its stake in Owens Corning by 10.1% in the second quarter. Truist Financial Corp now owns 14,380 shares of the construction company’s stock valued at $1,978,000 after acquiring an additional 1,317 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new position in Owens Corning during the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Price Performance

Shares of OC opened at $121.17 on Wednesday. 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’s fifty day simple moving average is $115.15 and its 200 day simple moving average is $129.57. The company has a market cap of $9.96 billion, a price-to-earnings ratio of -21.18, a PEG ratio of 2.54 and a beta of 1.35. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $192.64.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.03. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Owens Corning had a positive return on equity of 24.42% and a negative net margin of 4.46%.The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $4.38 EPS. On average, research analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Monday, January 5th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, January 5th. This is an increase from Owens Corning’s previous quarterly dividend of $0.69. Owens Corning’s dividend payout ratio (DPR) is -55.24%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup dropped their price target on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Evercore ISI dropped their price target on shares of Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a research note on Thursday, December 4th. Barclays raised their target price on shares of Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $149.75.

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.