Vanguard Personalized Indexing Management LLC Sells 10,432 Shares of Owens Corning Inc $OC

Vanguard Personalized Indexing Management LLC cut its stake in Owens Corning Inc (NYSE:OC) by 40.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,611 shares of the construction company’s stock after selling 10,432 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Owens Corning were worth $2,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in OC. LBP AM SA lifted its position in Owens Corning by 81.9% during the 3rd quarter. LBP AM SA now owns 31,624 shares of the construction company’s stock valued at $4,474,000 after purchasing an additional 14,237 shares during the period. Commerzbank Aktiengesellschaft FI lifted its holdings in Owens Corning by 288.2% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 7,771 shares of the construction company’s stock valued at $1,100,000 after buying an additional 5,769 shares during the period. First Citizens Bank & Trust Co. boosted its stake in Owens Corning by 3.4% in the third quarter. First Citizens Bank & Trust Co. now owns 4,864 shares of the construction company’s stock valued at $688,000 after acquiring an additional 161 shares during the last quarter. Whittier Trust Co. acquired a new stake in Owens Corning during the 3rd quarter worth $56,000. Finally, TrueMark Investments LLC bought a new stake in shares of Owens Corning during the 3rd quarter valued at $3,782,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank Of Canada set a $143.00 price target on Owens Corning in a research report on Friday, January 9th. Citigroup reduced their target price on Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. UBS Group lowered their price target on Owens Corning from $179.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Jefferies Financial Group reduced their price objective on shares of Owens Corning from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Finally, Evercore ISI lowered their target price on shares of Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and an average target price of $149.75.

Owens Corning Price Performance

OC stock opened at $119.84 on Friday. The stock has a 50-day moving average price of $116.33 and a two-hundred day moving average price of $129.27. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $192.60. The stock has a market cap of $9.85 billion, a PE ratio of -20.95, a price-to-earnings-growth ratio of 2.48 and a beta of 1.35. 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 (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 the consensus estimate of $3.64 by $0.03. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Owens Corning had a positive return on equity of 24.42% and a negative net margin of 4.46%.Owens Corning’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.38 earnings per share. Equities analysts forecast that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Monday, January 5th were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.6%. This is an increase from Owens Corning’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Monday, January 5th. Owens Corning’s 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.