Owens Corning Inc $OC Shares Sold by Candriam S.C.A.

Candriam S.C.A. decreased its position in Owens Corning Inc (NYSE:OC) by 2.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 174,164 shares of the construction company’s stock after selling 4,241 shares during the period. Candriam S.C.A. owned about 0.21% of Owens Corning worth $24,637,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of OC. Ossiam increased 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 valued at $172,000 after purchasing an additional 70 shares in the last quarter. Pitcairn Co. grew its holdings in Owens Corning by 4.6% in the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock valued at $250,000 after purchasing an additional 80 shares during the period. Archer Investment Corp grew its holdings in Owens Corning by 13.3% in the third quarter. Archer Investment Corp now owns 748 shares of the construction company’s stock valued at $106,000 after purchasing an additional 88 shares during the period. Brown Advisory Inc. increased its position in shares of Owens Corning by 0.8% in the second quarter. Brown Advisory Inc. now owns 11,847 shares of the construction company’s stock valued at $1,629,000 after buying an additional 96 shares in the last quarter. Finally, State of Michigan Retirement System raised its stake in shares of Owens Corning by 0.4% during the 2nd quarter. State of Michigan Retirement System now owns 24,588 shares of the construction company’s stock worth $3,381,000 after buying an additional 100 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $135.90 on Tuesday. The business’s 50 day moving average price is $118.72 and its 200 day moving average price is $128.62. The company has a market cap of $11.17 billion, a price-to-earnings ratio of -23.76, a PEG ratio of 2.84 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.86 and a current ratio of 1.40. Owens Corning Inc has a one year low of $97.53 and a one year high of $183.49.

Owens Corning Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.3%. Owens Corning’s dividend payout ratio is currently -55.24%.

Analysts Set New Price Targets

OC has been the topic of a number of research analyst reports. Citigroup dropped their price target on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. JPMorgan Chase & Co. decreased their price objective on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Evercore cut their target price on shares of Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a research note on Thursday, December 4th. Royal Bank Of Canada set a $143.00 price target on shares of Owens Corning in a research note on Friday, January 9th. Finally, Barclays lifted their price objective on Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Owens Corning has an average rating of “Moderate Buy” and a consensus price target 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.