American Century Companies Inc. Purchases 27,748 Shares of Owens Corning Inc $OC

American Century Companies Inc. grew its stake in Owens Corning Inc (NYSE:OC) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 275,855 shares of the construction company’s stock after acquiring an additional 27,748 shares during the period. American Century Companies Inc. owned 0.34% of Owens Corning worth $39,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Ariel Investments LLC increased its holdings in shares of Owens Corning by 24.8% in the second quarter. Ariel Investments LLC now owns 140,449 shares of the construction company’s stock worth $19,315,000 after acquiring an additional 27,871 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Owens Corning by 231.4% in the third quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock valued at $6,909,000 after purchasing an additional 34,106 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Owens Corning by 6.7% during the second quarter. JPMorgan Chase & Co. now owns 456,952 shares of the construction company’s stock worth $62,840,000 after buying an additional 28,814 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Owens Corning by 6.1% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 42,020 shares of the construction company’s stock valued at $5,779,000 after buying an additional 2,421 shares during the last quarter. Finally, Caprock Group LLC acquired a new stake in Owens Corning in the 3rd quarter valued at approximately $1,742,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Evercore reduced their price target on Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a research report on Thursday, December 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. Royal Bank Of Canada set a $143.00 target price on shares of Owens Corning in a report on Friday, January 9th. Wells Fargo & Company lifted their price target on Owens Corning from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Finally, Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $151.58.

Owens Corning Trading Down 1.6%

Shares of OC stock opened at $109.71 on Friday. The company has a 50-day simple moving average of $123.54 and a two-hundred day simple moving average of $126.41. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of -17.14, a PEG ratio of 1.80 and a beta of 1.35. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.70 and a current ratio of 1.26.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, February 25th. The construction company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the firm posted $3.22 EPS. The company’s revenue for the quarter was down 16.8% compared to the same quarter last year. Research analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Monday, March 9th will be paid a $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 annualized dividend and a dividend yield of 2.9%. Owens Corning’s payout ratio is presently -49.38%.

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.