Owens Corning Inc $OC Shares Bought by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC increased its position in Owens Corning Inc (NYSE:OC) by 231.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,843 shares of the construction company’s stock after acquiring an additional 34,106 shares during the period. Ashton Thomas Private Wealth LLC owned approximately 0.06% of Owens Corning worth $6,909,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Owens Corning during the second quarter valued at approximately $163,719,000. First Trust Advisors LP increased its position in Owens Corning by 164.6% in the 2nd quarter. First Trust Advisors LP now owns 920,726 shares of the construction company’s stock valued at $126,618,000 after acquiring an additional 572,770 shares during the period. Amundi raised its stake in Owens Corning by 92.9% during the 2nd quarter. Amundi now owns 1,086,735 shares of the construction company’s stock valued at $157,279,000 after acquiring an additional 523,376 shares in the last quarter. Marshall Wace LLP boosted its position in Owens Corning by 17,614.0% during the 2nd quarter. Marshall Wace LLP now owns 422,832 shares of the construction company’s stock worth $58,148,000 after acquiring an additional 420,445 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Owens Corning by 70.9% in the second quarter. AQR Capital Management LLC now owns 960,604 shares of the construction company’s stock worth $132,102,000 after purchasing an additional 398,440 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OC. Argus upgraded shares of Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada set a $143.00 price objective on shares of Owens Corning in a report on Friday, January 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 29th. Truist Financial decreased their price target on Owens Corning from $165.00 to $135.00 and set a “hold” rating for the company in a research note on Thursday, October 9th. Finally, Evercore ISI dropped their price objective on Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.75.

Owens Corning Trading Up 6.3%

NYSE:OC opened at $132.77 on Thursday. The stock has a fifty day simple moving average of $117.41 and a 200 day simple moving average of $128.89. The firm has a market capitalization of $10.91 billion, a price-to-earnings ratio of -23.21, a price-to-earnings-growth ratio of 2.62 and a beta of 1.36. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $186.18. 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 posted its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.03. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.71 billion. Owens Corning had a negative net margin of 4.46% and a positive return on equity of 24.42%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.38 earnings per share. Sell-side analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Monday, January 5th were paid a dividend of $0.79 per share. 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. This represents a $3.16 annualized dividend and a yield of 2.4%. Owens Corning’s dividend payout ratio (DPR) is presently -55.24%.

About Owens Corning

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.