B. Metzler seel. Sohn & Co. AG Grows Position in Owens Corning Inc $OC

B. Metzler seel. Sohn & Co. AG grew its holdings in shares of Owens Corning Inc (NYSE:OC) by 42.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,144 shares of the construction company’s stock after purchasing an additional 4,793 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Owens Corning were worth $2,284,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Ossiam lifted its stake in shares of Owens Corning by 5.9% during the 2nd quarter. Ossiam now owns 1,254 shares of the construction company’s stock valued at $172,000 after buying an additional 70 shares in the last quarter. Pitcairn Co. grew its stake in Owens Corning by 4.6% in the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock valued at $250,000 after buying an additional 80 shares in the last quarter. Archer Investment Corp raised its holdings in Owens Corning by 13.3% during the 3rd quarter. Archer Investment Corp now owns 748 shares of the construction company’s stock valued at $106,000 after acquiring an additional 88 shares during the period. Brown Advisory Inc. raised its holdings in Owens Corning by 0.8% during the 2nd quarter. Brown Advisory Inc. now owns 11,847 shares of the construction company’s stock valued at $1,629,000 after acquiring an additional 96 shares during the period. Finally, Assetmark Inc. lifted its position in shares of Owens Corning by 51.0% during the second quarter. Assetmark Inc. now owns 299 shares of the construction company’s stock worth $41,000 after acquiring an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

OC has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Owens Corning from $157.00 to $113.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Citigroup dropped their price objective on Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. UBS Group lifted their target price on Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Barclays upped their price target on Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $151.58.

Owens Corning Trading Down 2.0%

Owens Corning stock opened at $107.54 on Tuesday. 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 fifty-two week low of $97.53 and a fifty-two week high of $159.42. The stock has a market cap of $8.64 billion, a P/E ratio of -16.80, a PEG ratio of 1.78 and a beta of 1.35. The firm’s fifty day moving average price is $123.44 and its 200-day moving average price is $125.78.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) 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 business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the business posted $3.22 EPS. Owens Corning’s quarterly revenue was down 16.8% on a year-over-year basis. Equities research analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm 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 2.9%. The ex-dividend date is Monday, March 9th. Owens Corning’s dividend payout ratio (DPR) is -49.38%.

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.