Inscription Capital LLC Takes Position in Owens Corning Inc $OC

Inscription Capital LLC bought a new position in Owens Corning Inc (NYSE:OC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,465 shares of the construction company’s stock, valued at approximately $1,056,000.

Several other institutional investors also recently bought and sold shares of the stock. Geneos Wealth Management Inc. boosted its holdings in shares of Owens Corning by 61.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after purchasing an additional 184 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Owens Corning in the second quarter worth about $277,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Owens Corning by 122.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,369 shares of the construction company’s stock worth $2,814,000 after buying an additional 10,649 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in Owens Corning by 10.6% during the second quarter. IFM Investors Pty Ltd now owns 21,542 shares of the construction company’s stock valued at $2,962,000 after buying an additional 2,058 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Owens Corning by 7.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 96,167 shares of the construction company’s stock valued at $13,225,000 after buying an additional 6,271 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OC has been the topic of several recent research reports. Evercore ISI decreased their price objective on Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a report on Thursday, December 4th. Vertical Research initiated coverage on shares of Owens Corning in a research note on Monday, October 20th. They set a “hold” rating on the stock. Wells Fargo & Company increased their price objective on shares of Owens Corning from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Truist Financial reduced their target price on shares of Owens Corning from $165.00 to $135.00 and set a “hold” rating on the stock in a report on Thursday, October 9th. Finally, Barclays upped their target price on shares of Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $149.75.

Owens Corning Stock Performance

Shares of NYSE:OC opened at $120.82 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.05. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $192.96. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of -21.12, a PEG ratio of 11.88 and a beta of 1.35. The firm’s 50-day moving average is $112.89 and its 200 day moving average is $130.37.

Owens Corning (NYSE:OC) last announced its 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 positive return on equity of 24.42% and a negative net margin of 4.46%.The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the previous year, the business earned $4.38 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. Research analysts predict that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Monday, January 5th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.69. The ex-dividend date is Monday, January 5th. Owens Corning’s dividend payout ratio is -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.