Owens Corning Inc $OC is Lodge Hill Capital LLC’s Largest Position

Lodge Hill Capital LLC raised its holdings in Owens Corning Inc (NYSE:OC) by 58.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 378,570 shares of the construction company’s stock after purchasing an additional 140,000 shares during the quarter. Owens Corning accounts for about 9.6% of Lodge Hill Capital LLC’s holdings, making the stock its biggest position. Lodge Hill Capital LLC’s holdings in Owens Corning were worth $53,553,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Owens Corning by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 9,947,480 shares of the construction company’s stock valued at $1,367,977,000 after buying an additional 131,795 shares during the period. Nordea Investment Management AB increased its holdings in shares of Owens Corning by 0.7% in the 2nd quarter. Nordea Investment Management AB now owns 2,225,800 shares of the construction company’s stock valued at $305,291,000 after purchasing an additional 15,927 shares in the last quarter. LSV Asset Management increased its holdings in shares of Owens Corning by 0.3% in the 3rd quarter. LSV Asset Management now owns 1,449,562 shares of the construction company’s stock valued at $205,055,000 after purchasing an additional 4,370 shares in the last quarter. Norges Bank acquired a new stake in shares of Owens Corning in the second quarter valued at about $163,719,000. Finally, Qube Research & Technologies Ltd lifted its position in shares of Owens Corning by 43.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,102,722 shares of the construction company’s stock valued at $151,646,000 after acquiring an additional 331,835 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Trading Down 2.4%

OC stock opened at $135.09 on Friday. The business has a fifty day simple moving average of $120.18 and a 200-day simple moving average of $128.67. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $179.82. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.05. The company has a market cap of $11.10 billion, a price-to-earnings ratio of -23.62, a PEG ratio of 2.90 and a beta of 1.36.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.3%. Owens Corning’s payout ratio is presently -55.24%.

Analysts Set New Price Targets

Several research firms have weighed in on OC. Barclays upped their target price on Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, January 15th. Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. UBS Group dropped their target price on shares of Owens Corning from $179.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, January 6th. Citigroup reduced their price target on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $150.58.

Owens Corning 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.