Caprock Group LLC Invests $1.74 Million in Owens Corning Inc $OC

Caprock Group LLC purchased a new stake in Owens Corning Inc (NYSE:OC) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,600 shares of the construction company’s stock, valued at approximately $1,742,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank acquired a new position in shares of Owens Corning during the 2nd quarter worth approximately $163,719,000. First Trust Advisors LP grew its position in Owens Corning by 164.6% during the second quarter. First Trust Advisors LP now owns 920,726 shares of the construction company’s stock worth $126,618,000 after buying an additional 572,770 shares in the last quarter. Amundi increased its stake in Owens Corning by 92.9% during the 2nd quarter. Amundi now owns 1,086,735 shares of the construction company’s stock worth $157,279,000 after acquiring an additional 523,376 shares during the period. Marshall Wace LLP raised its holdings in Owens Corning by 17,614.0% in the 2nd quarter. Marshall Wace LLP now owns 422,832 shares of the construction company’s stock valued at $58,148,000 after acquiring an additional 420,445 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Owens Corning by 70.9% during the 2nd quarter. AQR Capital Management LLC now owns 960,604 shares of the construction company’s stock valued at $132,102,000 after acquiring an additional 398,440 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Down 0.8%

Shares of Owens Corning stock opened at $134.16 on Friday. The firm’s 50 day moving average is $120.59 and its 200 day moving average is $128.61. The firm has a market capitalization of $11.03 billion, a PE ratio of -23.45, a price-to-earnings-growth ratio of 2.83 and a beta of 1.36. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $179.82. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.05.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, March 9th. Owens Corning’s dividend payout ratio is presently -55.24%.

Analysts Set New Price Targets

A number of research analysts recently commented on OC shares. Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. JPMorgan Chase & Co. decreased their target price 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. Royal Bank Of Canada set a $143.00 target price on shares of Owens Corning in a research report on Friday, January 9th. Wells Fargo & Company upped their price target on shares of Owens Corning from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Barclays lifted their price objective on shares of Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and an average price target of $150.58.

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.