Dynamic Technology Lab Private Ltd Invests $1.08 Million in Owens Corning Inc $OC

Dynamic Technology Lab Private Ltd bought a new stake in Owens Corning Inc (NYSE:OC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,630 shares of the construction company’s stock, valued at approximately $1,079,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Ariel Investments LLC lifted its stake in Owens Corning by 24.8% in the second quarter. Ariel Investments LLC now owns 140,449 shares of the construction company’s stock valued at $19,315,000 after buying an additional 27,871 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its position in shares of Owens Corning by 231.4% during the third quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock worth $6,909,000 after acquiring an additional 34,106 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 acquiring an additional 28,814 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of 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 acquiring an additional 2,421 shares during the period. Finally, Caprock Group LLC acquired a new position in shares of Owens Corning in the 3rd quarter valued at $1,742,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Argus upgraded shares of Owens Corning to a “strong-buy” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. reduced their target price on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 29th. Finally, Barclays raised their price target on Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.58.

Owens Corning Stock Down 1.6%

Shares of Owens Corning stock opened at $109.71 on Monday. The company has a market cap of $8.82 billion, a P/E ratio of -17.14, a PEG ratio of 1.78 and a beta of 1.35. 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 Inc has a one year low of $97.53 and a one year high of $159.42. The firm has a fifty day moving average of $123.54 and a two-hundred day moving average of $126.07.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.26). Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the previous year, the firm earned $3.22 EPS. The firm’s revenue was down 16.8% on a year-over-year basis. On average, analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

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

Owens Corning Company 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.