Lansforsakringar Fondforvaltning AB publ Raises Holdings in Owens Corning Inc $OC

Lansforsakringar Fondforvaltning AB publ lifted its position in Owens Corning Inc (NYSE:OC) by 46.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 150,293 shares of the construction company’s stock after buying an additional 47,502 shares during the period. Lansforsakringar Fondforvaltning AB publ owned approximately 0.18% of Owens Corning worth $21,260,000 as of its most recent SEC filing.

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

Owens Corning Trading Up 0.8%

Owens Corning stock opened at $132.74 on Monday. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $173.63. The firm’s 50-day moving average is $122.50 and its 200-day moving average is $128.16. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.86 and a current ratio of 1.40. The company has a market cap of $10.91 billion, a P/E ratio of -23.21, a PEG ratio of 2.78 and a beta of 1.36.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, March 9th. Owens Corning’s dividend payout ratio is presently -55.24%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OC. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Barclays upped their price target on Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Evercore lowered their target price on shares of Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a research report on Thursday, December 4th. JPMorgan Chase & Co. reduced their price objective on Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Finally, Citigroup reduced their price target on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.58.

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.