Shell Asset Management Co. Has $260,000 Stock Holdings in Owens Corning Inc $OC

Shell Asset Management Co. decreased its position in Owens Corning Inc (NYSE:OC) by 82.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,837 shares of the construction company’s stock after selling 8,383 shares during the period. Shell Asset Management Co.’s holdings in Owens Corning were worth $260,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Ariel Investments LLC lifted its position in shares of Owens Corning by 24.8% in the second quarter. Ariel Investments LLC now owns 140,449 shares of the construction company’s stock worth $19,315,000 after purchasing an additional 27,871 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Owens Corning by 6.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 456,952 shares of the construction company’s stock worth $62,840,000 after buying an additional 28,814 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in shares of Owens Corning by 231.4% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock worth $6,909,000 after buying an additional 34,106 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Owens Corning by 6.1% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 42,020 shares of the construction company’s stock valued at $5,779,000 after acquiring an additional 2,421 shares in the last quarter. Finally, Aviva PLC increased its position in shares of Owens Corning by 7.2% in the second quarter. Aviva PLC now owns 60,634 shares of the construction company’s stock valued at $8,338,000 after acquiring an additional 4,091 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Citigroup reduced their price target on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Zacks Research raised shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. UBS Group lowered their target price on shares of Owens Corning from $179.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and a consensus target price of $150.58.

Owens Corning Price Performance

Shares of OC opened at $134.31 on Thursday. The company’s 50-day moving average is $121.86 and its 200-day moving average is $128.40. 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 firm has a market capitalization of $11.04 billion, a PE ratio of -23.48, a PEG ratio of 2.80 and a beta of 1.36. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $175.37.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be issued a dividend of $0.79 per share. 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 payout ratio is currently -55.24%.

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.