Owens Corning Inc $OC Holdings Cut by TD Private Client Wealth LLC

TD Private Client Wealth LLC lowered its holdings in Owens Corning Inc (NYSE:OC) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,230 shares of the construction company’s stock after selling 146 shares during the period. TD Private Client Wealth LLC’s holdings in Owens Corning were worth $307,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Owens Corning by 12.0% during the first quarter. Vanguard Group Inc. now owns 9,815,685 shares of the construction company’s stock valued at $1,401,876,000 after buying an additional 1,053,855 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Owens Corning by 67.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,380,123 shares of the construction company’s stock valued at $339,930,000 after buying an additional 957,295 shares during the last quarter. LSV Asset Management raised its holdings in shares of Owens Corning by 1.9% during the first quarter. LSV Asset Management now owns 1,476,067 shares of the construction company’s stock valued at $210,812,000 after buying an additional 27,185 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Owens Corning by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 865,665 shares of the construction company’s stock valued at $123,634,000 after buying an additional 5,819 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Owens Corning by 179.0% during the first quarter. Millennium Management LLC now owns 863,230 shares of the construction company’s stock valued at $123,287,000 after buying an additional 553,864 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

NYSE OC opened at $142.83 on Monday. Owens Corning Inc has a 12 month low of $123.40 and a 12 month high of $214.53. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. The firm has a market capitalization of $11.94 billion, a PE ratio of 37.10, a P/E/G ratio of 10.14 and a beta of 1.32. The company’s 50 day simple moving average is $147.69 and its 200 day simple moving average is $142.60.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, beating 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 net margin of 2.98% and a return on equity of 24.49%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $4.64 earnings per share. As a group, equities 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 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 is Monday, October 20th. This represents a $2.76 annualized dividend and a yield of 1.9%. Owens Corning’s payout ratio is 71.69%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OC. Barclays lifted their price target on Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Royal Bank Of Canada cut their price target on Owens Corning from $184.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Evercore ISI lifted their price target on Owens Corning from $165.00 to $169.00 and gave the company an “in-line” rating in a report on Friday, August 8th. Wells Fargo & Company raised their price objective on shares of Owens Corning from $170.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Finally, UBS Group lowered their price objective on shares of Owens Corning from $218.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently 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.