QRG Capital Management Inc. Has $1.86 Million Position in Owens Corning Inc $OC

QRG Capital Management Inc. trimmed its position in Owens Corning Inc (NYSE:OC) by 36.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,130 shares of the construction company’s stock after selling 7,466 shares during the period. QRG Capital Management Inc.’s holdings in Owens Corning were worth $1,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Twin Peaks Wealth Advisors LLC bought a new stake in Owens Corning in the second quarter valued at approximately $26,000. Rexford Capital Inc. bought a new stake in shares of Owens Corning in the 2nd quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Owens Corning during the 2nd quarter worth $30,000. Vermillion & White Wealth Management Group LLC lifted its holdings in Owens Corning by 149.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock worth $31,000 after acquiring an additional 133 shares in the last quarter. Finally, Chilton Capital Management LLC acquired a new position in Owens Corning in the second quarter valued at about $37,000. Institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

OC has been the subject of several recent analyst reports. Royal Bank Of Canada set a $143.00 price target on Owens Corning in a report on Friday, January 9th. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. UBS Group dropped their target price on shares of Owens Corning from $179.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. JPMorgan Chase & Co. cut their price target on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Finally, Barclays increased their price objective on shares of Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.75.

Owens Corning Stock Performance

Shares of OC stock opened at $124.54 on Tuesday. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $192.96. The company’s fifty day simple moving average is $112.54 and its 200-day simple moving average is $130.54. The firm has a market cap of $10.24 billion, a PE ratio of -21.77, a P/E/G ratio of 11.88 and a beta of 1.35. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.05.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.03. Owens Corning had a negative net margin of 4.46% and a positive return on equity of 24.42%. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the business earned $4.38 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. Equities research analysts expect that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Monday, January 5th will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, January 5th. This is a boost from Owens Corning’s previous quarterly dividend of $0.69. This represents a $3.16 annualized dividend and a yield of 2.5%. Owens Corning’s dividend payout ratio is currently -55.24%.

Owens Corning Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.