Chilton Capital Management LLC Acquires Shares of 267 Owens Corning Inc $OC

Chilton Capital Management LLC bought a new position in Owens Corning Inc (NYSE:OC) during the 2nd quarter, Holdings Channel reports. The fund bought 267 shares of the construction company’s stock, valued at approximately $37,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OC. Resonant Capital Advisors LLC increased its stake in Owens Corning by 20.6% in the 2nd quarter. Resonant Capital Advisors LLC now owns 2,104 shares of the construction company’s stock worth $289,000 after acquiring an additional 359 shares during the last quarter. Hixon Zuercher LLC increased its position in Owens Corning by 4.1% in the second quarter. Hixon Zuercher LLC now owns 8,917 shares of the construction company’s stock worth $1,226,000 after purchasing an additional 353 shares during the last quarter. Brighton Jones LLC purchased a new stake in Owens Corning during the second quarter valued at $502,000. MQS Management LLC bought a new position in Owens Corning during the second quarter valued at $544,000. Finally, Focus Partners Advisor Solutions LLC lifted its position in Owens Corning by 120.5% during the second quarter. Focus Partners Advisor Solutions LLC now owns 3,087 shares of the construction company’s stock valued at $425,000 after purchasing an additional 1,687 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

Owens Corning Price Performance

Shares of OC stock opened at $127.87 on Monday. The stock has a 50 day moving average price of $142.69 and a 200 day moving average price of $141.19. Owens Corning Inc has a 52-week low of $123.23 and a 52-week high of $214.53. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52. The firm has a market capitalization of $10.69 billion, a P/E ratio of 33.21, a P/E/G ratio of 9.33 and a beta of 1.32.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.41. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $4.64 earnings per share. As a group, sell-side analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning’s payout ratio is 71.69%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OC. Weiss Ratings restated a “hold (c)” rating on shares of Owens Corning in a research report on Saturday. Royal Bank Of Canada decreased their price objective on Owens Corning from $184.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Zacks Research cut Owens Corning from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Jefferies Financial Group decreased their price target on Owens Corning from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Finally, Vertical Research initiated coverage on Owens Corning in a research report on Monday, October 20th. They issued a “hold” rating for the company. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.

Owens Corning Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.