Junto Capital Management LP Makes New $18.68 Million Investment in Owens Corning Inc $OC

Junto Capital Management LP acquired a new stake in Owens Corning Inc (NYSE:OC) during the third quarter, Holdings Channel.com reports. The fund acquired 132,034 shares of the construction company’s stock, valued at approximately $18,678,000.

A number of other hedge funds have also recently made changes to their positions in the business. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Owens Corning during the second quarter worth about $26,000. Rexford Capital Inc. bought a new position in Owens Corning in the 2nd quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Owens Corning in the 2nd quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC boosted its stake in Owens Corning by 149.4% during the 2nd 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 last quarter. Finally, Root Financial Partners LLC bought a new stake in Owens Corning during the 3rd quarter worth approximately $39,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OC has been the topic of a number of recent research reports. UBS Group raised their target price on Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Wells Fargo & Company upped their price target on Owens Corning from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Argus raised Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Barclays raised their price objective on Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Finally, Evercore cut their price objective on shares of Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $151.58.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $106.48 on Monday. The business’s fifty day simple moving average is $122.88 and its 200 day simple moving average is $124.42. The company has a current ratio of 1.26, a quick ratio of 0.70 and a debt-to-equity ratio of 1.20. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.42. The firm has a market capitalization of $8.56 billion, a P/E ratio of -16.64, a price-to-earnings-growth ratio of 1.72 and a beta of 1.35.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the company earned $3.22 EPS. The firm’s revenue for the quarter was down 16.8% compared to the same quarter last year. As a group, analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be given a dividend of $0.79 per share. The ex-dividend date is Monday, March 9th. This represents a $3.16 annualized dividend and a yield of 3.0%. Owens Corning’s dividend payout ratio 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.