Achmea Investment Management B.V. Has $11.93 Million Stock Position in Owens Corning Inc $OC

Achmea Investment Management B.V. lowered its position in Owens Corning Inc (NYSE:OC) by 9.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 84,310 shares of the construction company’s stock after selling 8,350 shares during the period. Achmea Investment Management B.V. owned 0.10% of Owens Corning worth $11,926,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Caerus Investment Advisors LLC acquired a new position in Owens Corning during the third quarter worth $202,000. Coldstream Capital Management Inc. increased its position in shares of Owens Corning by 3.1% during the third quarter. Coldstream Capital Management Inc. now owns 5,593 shares of the construction company’s stock worth $791,000 after acquiring an additional 167 shares in the last quarter. Danske Bank A S bought a new stake in shares of Owens Corning during the third quarter worth about $4,946,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Owens Corning in the 3rd quarter worth about $56,000. Finally, Advisory Services Network LLC bought a new position in Owens Corning in the 3rd quarter valued at about $67,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on OC. Citigroup decreased their price objective on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Wells Fargo & Company raised their target price on Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. UBS Group lifted their target price on Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Evercore lowered 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. Finally, Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.58.

Owens Corning Stock Performance

OC stock opened at $107.74 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.26 and a debt-to-equity ratio of 1.20. The firm has a market cap of $8.66 billion, a PE ratio of -16.83, a P/E/G ratio of 1.76 and a beta of 1.35. The business has a 50 day moving average of $122.54 and a 200-day moving average of $123.71. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.42.

Owens Corning (NYSE:OC) last issued 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). The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The business’s revenue was down 16.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.22 earnings per share. As a group, sell-side analysts expect that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors 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 dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, March 9th. Owens Corning’s payout ratio 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.