Owens Corning Inc $OC Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Owens Corning Inc (NYSE:OC) by 17.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,956 shares of the construction company’s stock after purchasing an additional 12,314 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.10% of Owens Corning worth $11,593,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC purchased a new position in Owens Corning during the second quarter worth about $26,000. Rexford Capital Inc. acquired a new position in shares of Owens Corning in the 2nd quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Owens Corning during the 2nd quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC raised its position in 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 valued at $31,000 after purchasing an additional 133 shares during the period. Finally, Root Financial Partners LLC purchased a new stake in Owens Corning in the third quarter valued at approximately $39,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OC has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. Royal Bank Of Canada set a $143.00 target price on Owens Corning in a report on Friday, January 9th. UBS Group lifted their target price on Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Citigroup cut 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 note on Thursday, January 8th. Finally, Wells Fargo & Company raised their price objective on shares of Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and a consensus price target of $151.58.

Owens Corning Stock Performance

Shares of OC opened at $116.76 on Tuesday. The stock has a 50-day simple moving average of $123.58 and a 200-day simple moving average of $127.11. 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 stock has a market capitalization of $9.39 billion, a PE ratio of -18.24, a PEG ratio of 1.91 and a beta of 1.36. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.42.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The firm’s quarterly revenue was down 16.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.22 earnings per share. On average, analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, March 9th. Owens Corning’s dividend payout ratio (DPR) is presently -49.38%.

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.