10,776 Shares in Owens Corning Inc $OC Acquired by Strs Ohio

Strs Ohio bought a new position in Owens Corning Inc (NYSE:OC) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,776 shares of the construction company’s stock, valued at approximately $1,539,000.

A number of other large investors have also added to or reduced their stakes in the stock. NorthCrest Asset Manangement LLC grew its position in Owens Corning by 0.6% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 13,043 shares of the construction company’s stock worth $1,863,000 after purchasing an additional 74 shares during the period. Menard Financial Group LLC grew its position in Owens Corning by 3.6% in the 4th quarter. Menard Financial Group LLC now owns 2,272 shares of the construction company’s stock worth $387,000 after purchasing an additional 80 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Owens Corning by 13.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 733 shares of the construction company’s stock worth $125,000 after purchasing an additional 85 shares during the period. UMB Bank n.a. grew its position in Owens Corning by 9.8% in the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the construction company’s stock worth $143,000 after purchasing an additional 89 shares during the period. Finally, Archer Investment Corp grew its position in Owens Corning by 17.9% in the 1st quarter. Archer Investment Corp now owns 660 shares of the construction company’s stock worth $94,000 after purchasing an additional 100 shares during the period. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 1.8%

Shares of NYSE OC opened at $149.64 on Wednesday. The firm’s 50-day moving average price is $147.69 and its 200-day moving average price is $142.57. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $12.51 billion, a price-to-earnings ratio of 38.87, a P/E/G ratio of 10.79 and a beta of 1.32. Owens Corning Inc has a 12-month low of $123.40 and a 12-month high of $214.53.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.41. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the prior year, the company earned $4.64 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Monday, July 21st were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Monday, July 21st. Owens Corning’s dividend payout ratio is 71.69%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OC. Wells Fargo & Company boosted their price objective on shares of Owens Corning from $170.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Barclays boosted their price objective on shares of Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. UBS Group cut their price objective on shares of Owens Corning from $218.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Evercore ISI boosted their price objective on shares of Owens Corning from $165.00 to $169.00 and gave the company an “in-line” rating in a research report on Friday, August 8th. Finally, Royal Bank Of Canada cut their price objective on shares of Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.10.

About Owens Corning

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.