Universal Beteiligungs und Servicegesellschaft mbH Purchases 29,258 Shares of Owens Corning Inc $OC

Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Owens Corning Inc (NYSE:OC) by 61.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 76,541 shares of the construction company’s stock after buying an additional 29,258 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Owens Corning were worth $10,827,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Inscription Capital LLC acquired a new stake in Owens Corning during the third quarter worth approximately $1,056,000. Root Financial Partners LLC acquired a new stake in shares of Owens Corning during the 3rd quarter worth approximately $39,000. Lee Danner & Bass Inc. increased its stake in shares of Owens Corning by 6.5% in the 3rd quarter. Lee Danner & Bass Inc. now owns 11,393 shares of the construction company’s stock valued at $1,612,000 after acquiring an additional 697 shares in the last quarter. Allstate Corp bought a new position in Owens Corning during the third quarter worth $326,000. Finally, NorthCrest Asset Manangement LLC grew its holdings in Owens Corning by 4.7% in the third quarter. NorthCrest Asset Manangement LLC now owns 14,186 shares of the construction company’s stock worth $1,892,000 after purchasing an additional 631 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Stock Down 0.8%

OC stock opened at $124.33 on Friday. The firm has a market capitalization of $10.22 billion, a PE ratio of -21.74, a P/E/G ratio of 2.57 and a beta of 1.35. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.05. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $192.96. The stock’s 50 day moving average is $114.24 and its 200-day moving average is $130.07.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the company posted $4.38 earnings per share. Owens Corning’s revenue was down 2.9% compared to the same quarter last year. Sell-side analysts expect that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Monday, January 5th were issued a $0.79 dividend. This is an increase from Owens Corning’s previous quarterly dividend of $0.69. This represents a $3.16 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, January 5th. Owens Corning’s dividend payout ratio is currently -55.24%.

Analyst Ratings Changes

Several brokerages have recently weighed in on OC. Royal Bank Of Canada set a $143.00 price objective on shares of Owens Corning in a report on Friday, January 9th. Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Bank of America reduced their price objective on Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a research note on Wednesday, October 1st. Argus raised Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Finally, UBS Group reduced their price target on shares of Owens Corning from $179.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus 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.