Advisors Capital Management LLC Increases Stock Holdings in Owens Corning Inc $OC

Advisors Capital Management LLC boosted its stake in shares of Owens Corning Inc (NYSE:OC) by 17.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 53,340 shares of the construction company’s stock after buying an additional 7,930 shares during the period. Advisors Capital Management LLC owned approximately 0.06% of Owens Corning worth $7,335,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bangor Savings Bank purchased a new stake in shares of Owens Corning in the second quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Owens Corning during the 2nd quarter valued at about $30,000. Chilton Capital Management LLC purchased a new stake in Owens Corning in the 2nd quarter worth about $37,000. Assetmark Inc. raised its position in Owens Corning by 51.0% in the 2nd quarter. Assetmark Inc. now owns 299 shares of the construction company’s stock worth $41,000 after purchasing an additional 101 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in Owens Corning in the second quarter worth about $42,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Price Performance

NYSE OC opened at $101.64 on Friday. The firm’s fifty day simple moving average is $131.47 and its two-hundred day simple moving average is $138.57. The firm has a market capitalization of $8.35 billion, a P/E ratio of 26.40, a P/E/G ratio of 9.10 and a beta of 1.31. 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 12-month low of $100.50 and a 12-month high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.03. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter last year, the firm earned $4.38 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. Owens Corning has set its Q4 2025 guidance at EPS. Analysts forecast that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Monday, October 20th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, October 20th. Owens Corning’s dividend payout ratio (DPR) is currently -48.25%.

Analysts Set New Price Targets

OC has been the topic of several recent analyst reports. Truist Financial reduced their price target on Owens Corning from $165.00 to $135.00 and set a “hold” rating on the stock in a report on Thursday, October 9th. UBS Group cut their price objective on Owens Corning from $210.00 to $179.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. JPMorgan Chase & Co. decreased their target price on Owens Corning from $157.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday. Bank of America lowered their target price on shares of Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a research note on Wednesday, October 1st. Finally, Royal Bank Of Canada reduced their price target on shares of Owens Corning from $174.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $157.67.

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.