Owens Corning Inc $OC Position Raised by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI boosted its position in Owens Corning Inc (NYSE:OC) by 288.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,771 shares of the construction company’s stock after purchasing an additional 5,769 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Owens Corning were worth $1,100,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of OC. Ossiam raised its stake in shares of Owens Corning by 5.9% in the 2nd quarter. Ossiam now owns 1,254 shares of the construction company’s stock worth $172,000 after buying an additional 70 shares in the last quarter. Pitcairn Co. grew its holdings in Owens Corning by 4.6% during the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock worth $250,000 after acquiring an additional 80 shares during the period. Brown Advisory Inc. raised its position in Owens Corning by 0.8% in the second quarter. Brown Advisory Inc. now owns 11,847 shares of the construction company’s stock worth $1,629,000 after acquiring an additional 96 shares in the last quarter. State of Michigan Retirement System raised its position in Owens Corning by 0.4% in the second quarter. State of Michigan Retirement System now owns 24,588 shares of the construction company’s stock worth $3,381,000 after acquiring an additional 100 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in Owens Corning by 51.0% in the 2nd quarter. Assetmark Inc. now owns 299 shares of the construction company’s stock valued at $41,000 after acquiring an additional 101 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Price Performance

Shares of OC opened at $124.33 on Monday. The business’s 50-day moving average is $114.24 and its 200-day moving average is $129.95. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 0.86. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of -21.74, a P/E/G ratio of 2.57 and a beta of 1.35. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $192.96.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.03. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.71 billion. Owens Corning had a negative net margin of 4.46% and a positive return on equity of 24.42%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $4.38 earnings per share. Equities research analysts expect that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Monday, January 5th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Owens Corning’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Monday, January 5th. Owens Corning’s dividend payout ratio (DPR) is currently -55.24%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on OC shares. Barclays lifted their price objective on shares of Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Bank of America reduced their target price on shares of Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Citigroup dropped their price target on Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 29th. Finally, Vertical Research started coverage on Owens Corning in a report on Monday, October 20th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.75.

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.