Sage Capital Advisors llc lifted its holdings in shares of Owens Corning (NYSE:OC) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,254 shares of the construction company’s stock after purchasing an additional 303 shares during the period. Sage Capital Advisors llc’s holdings in Owens Corning were worth $1,775,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Partners increased its holdings in Owens Corning by 11.9% in the 3rd quarter. Boston Partners now owns 8,566,299 shares of the construction company’s stock worth $541,353,000 after acquiring an additional 912,294 shares during the last quarter. BlackRock Inc. grew its position in Owens Corning by 1.7% during the second quarter. BlackRock Inc. now owns 6,413,270 shares of the construction company’s stock valued at $373,253,000 after acquiring an additional 107,823 shares during the last quarter. State Street Corp grew its position in Owens Corning by 35.9% during the third quarter. State Street Corp now owns 4,218,249 shares of the construction company’s stock valued at $266,593,000 after acquiring an additional 1,113,210 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Owens Corning by 9.4% during the second quarter. Victory Capital Management Inc. now owns 3,896,979 shares of the construction company’s stock worth $226,805,000 after acquiring an additional 335,925 shares in the last quarter. Finally, HG Vora Capital Management LLC purchased a new position in shares of Owens Corning during the second quarter worth approximately $221,160,000. Institutional investors own 99.65% of the company’s stock.
A number of equities research analysts have recently issued reports on OC shares. Longbow Research upped their price objective on shares of Owens Corning from $66.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Deutsche Bank assumed coverage on shares of Owens Corning in a research report on Wednesday, November 20th. They issued a “buy” rating and a $75.00 target price on the stock. Goldman Sachs Group assumed coverage on shares of Owens Corning in a research note on Friday, December 6th. They issued a “buy” rating and a $80.00 price target for the company. Citigroup initiated coverage on shares of Owens Corning in a research report on Tuesday, December 17th. They set a “neutral” rating and a $71.00 price target for the company. Finally, Bank of America cut Owens Corning from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. Owens Corning has an average rating of “Hold” and a consensus price target of $67.15.
OC traded down $1.09 on Thursday, hitting $64.20. 577,660 shares of the company were exchanged, compared to its average volume of 795,016. The firm has a fifty day simple moving average of $65.39 and a two-hundred day simple moving average of $60.95. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.69. Owens Corning has a 12 month low of $44.46 and a 12 month high of $68.72. The stock has a market capitalization of $7.01 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.53 and a beta of 1.23.
Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.13. Owens Corning had a return on equity of 12.14% and a net margin of 6.99%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company earned $1.54 EPS. Owens Corning’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities analysts expect that Owens Corning will post 4.59 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.50%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, January 2nd. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.
About Owens Corning
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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