Voya Investment Management LLC Acquires 14,606 Shares of Owens Corning Inc $OC

Voya Investment Management LLC raised its holdings in Owens Corning Inc (NYSE:OC) by 21.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,894 shares of the construction company’s stock after purchasing an additional 14,606 shares during the quarter. Voya Investment Management LLC owned 0.10% of Owens Corning worth $11,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. NorthCrest Asset Manangement LLC grew its stake 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 valued at $1,863,000 after purchasing an additional 74 shares during the period. Menard Financial Group LLC grew its stake 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 valued at $387,000 after purchasing an additional 80 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 valued at $125,000 after purchasing an additional 85 shares during the period. UMB Bank n.a. grew its stake 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 valued at $143,000 after purchasing an additional 89 shares during the period. Finally, Archer Investment Corp grew its stake in Owens Corning by 17.9% in the 1st quarter. Archer Investment Corp now owns 660 shares of the construction company’s stock valued at $94,000 after purchasing an additional 100 shares during the period. Institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

Owens Corning Stock Performance

Shares of OC opened at $149.64 on Wednesday. The stock’s 50-day simple moving average is $147.69 and its 200 day simple moving average is $142.57. The stock has a market capitalization of $12.51 billion, a price-to-earnings ratio of 38.87, a price-to-earnings-growth ratio of 10.79 and a beta of 1.32. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52. Owens Corning Inc has a 52-week low of $123.40 and a 52-week high of $214.53.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 earnings per share (EPS) 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 analysts’ expectations of $2.70 billion. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.64 EPS. Research analysts forecast that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Monday, July 21st were issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $2.76 annualized dividend and a dividend yield of 1.8%. Owens Corning’s dividend payout ratio (DPR) is presently 71.69%.

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.