Owens Corning Inc $OC Shares Purchased by Raiffeisen Bank International AG

Raiffeisen Bank International AG raised its stake in Owens Corning Inc (NYSE:OC) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 314,417 shares of the construction company’s stock after acquiring an additional 14,943 shares during the quarter. Raiffeisen Bank International AG owned approximately 0.38% of Owens Corning worth $44,352,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of OC. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Owens Corning during the 2nd quarter valued at approximately $26,000. Rexford Capital Inc. acquired a new stake in Owens Corning during the second quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Owens Corning in the second quarter valued at $30,000. Vermillion & White Wealth Management Group LLC raised its position 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 period. Finally, Chilton Capital Management LLC acquired a new position in shares of Owens Corning in the second quarter worth about $37,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Up 0.8%

NYSE OC opened at $132.74 on Friday. Owens Corning Inc has a one year low of $97.53 and a one year high of $173.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.86 and a current ratio of 1.40. The business has a fifty day moving average price of $122.50 and a 200 day moving average price of $128.39. The company has a market cap of $10.91 billion, a P/E ratio of -23.21, a P/E/G ratio of 2.76 and a beta of 1.36.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, March 9th. Owens Corning’s dividend payout ratio is currently -55.24%.

Analysts Set New Price Targets

Several brokerages recently weighed in on OC. Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 29th. Wells Fargo & Company raised their price objective on Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. JPMorgan Chase & Co. decreased their target price on Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Finally, Barclays lifted their price target 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. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.