Owens Corning Inc $OC Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its position in Owens Corning Inc (NYSE:OC) by 10.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,542 shares of the construction company’s stock after buying an additional 2,058 shares during the quarter. IFM Investors Pty Ltd’s holdings in Owens Corning were worth $2,962,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bangor Savings Bank acquired a new position in Owens Corning during the 2nd quarter worth $28,000. Wayfinding Financial LLC acquired a new position in Owens Corning during the 1st quarter worth $60,000. Geneos Wealth Management Inc. lifted its holdings in Owens Corning by 61.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock worth $69,000 after buying an additional 184 shares during the last quarter. Archer Investment Corp lifted its holdings in Owens Corning by 17.9% during the 1st quarter. Archer Investment Corp now owns 660 shares of the construction company’s stock worth $94,000 after buying an additional 100 shares during the last quarter. Finally, Quarry LP lifted its holdings in Owens Corning by 36.0% during the 1st quarter. Quarry LP now owns 676 shares of the construction company’s stock worth $97,000 after buying an additional 179 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Trading Down 1.3%

Shares of OC opened at $143.71 on Tuesday. The stock’s fifty day simple moving average is $147.55 and its 200 day simple moving average is $142.52. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98. Owens Corning Inc has a twelve month low of $123.40 and a twelve month high of $214.53. The firm has a market capitalization of $12.02 billion, a P/E ratio of 37.33, a price-to-earnings-growth ratio of 10.31 and a beta of 1.32.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, beating the consensus estimate of $3.80 by $0.41. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the company posted $4.64 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts forecast 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. The ex-dividend date of this dividend is Monday, October 20th. This represents a $2.76 annualized dividend and a yield of 1.9%. Owens Corning’s dividend payout ratio (DPR) is 71.69%.

Analyst Ratings Changes

OC has been the subject of several research reports. Barclays boosted their target price on Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. UBS Group dropped their target price 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. Royal Bank Of Canada dropped their target price 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. Evercore ISI upped their price target on Owens Corning from $165.00 to $169.00 and gave the stock an “in-line” rating in a report on Friday, August 8th. Finally, Wells Fargo & Company upped their target price on Owens Corning from $170.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and an average price target 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.