Strs Ohio Has $287,000 Holdings in Owens Corning Inc $OC

Strs Ohio trimmed its stake in shares of Owens Corning Inc (NYSE:OC) by 83.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,030 shares of the construction company’s stock after selling 10,020 shares during the period. Strs Ohio’s holdings in Owens Corning were worth $287,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OC. Ossiam raised its stake in shares of Owens Corning by 5.9% in the 2nd quarter. Ossiam now owns 1,254 shares of the construction company’s stock valued at $172,000 after purchasing an additional 70 shares during the period. Pitcairn Co. grew its holdings in shares of Owens Corning by 4.6% during the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock worth $250,000 after buying an additional 80 shares in the last quarter. Brown Advisory Inc. raised its position in Owens Corning by 0.8% in the 2nd quarter. Brown Advisory Inc. now owns 11,847 shares of the construction company’s stock valued at $1,629,000 after buying an additional 96 shares during the last quarter. State of Michigan Retirement System lifted its stake in Owens Corning by 0.4% in the 2nd quarter. State of Michigan Retirement System now owns 24,588 shares of the construction company’s stock valued at $3,381,000 after acquiring an additional 100 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Owens Corning by 51.0% during the 2nd quarter. Assetmark Inc. now owns 299 shares of the construction company’s stock worth $41,000 after acquiring an additional 101 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on OC. Argus raised shares of Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Barclays lifted their price target on shares of Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Vertical Research began coverage on shares of Owens Corning in a research note on Monday, October 20th. They set a “hold” rating for the company. Royal Bank Of Canada set a $143.00 target price on Owens Corning in a research report on Friday, January 9th. Finally, Wells Fargo & Company upped their target price on Owens Corning from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.75.

Owens Corning Stock Down 0.0%

OC stock opened at $119.84 on Monday. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $192.60. The business’s 50 day simple moving average is $116.33 and its 200 day simple moving average is $129.11. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $9.85 billion, a PE ratio of -20.95, a PEG ratio of 2.48 and a beta of 1.36.

Owens Corning (NYSE:OC) last announced 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 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 the consensus estimate of $2.71 billion. During the same quarter last year, the firm posted $4.38 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, research analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Monday, January 5th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.6%. This is a boost from Owens Corning’s previous quarterly dividend of $0.69. The ex-dividend date was Monday, January 5th. Owens Corning’s dividend payout ratio (DPR) 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.