Bridgefront Capital LLC Sells 10,205 Shares of Owens Corning Inc $OC

Bridgefront Capital LLC reduced its stake in Owens Corning Inc (NYSE:OC) by 65.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,458 shares of the construction company’s stock after selling 10,205 shares during the period. Bridgefront Capital LLC’s holdings in Owens Corning were worth $772,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of OC. Twin Peaks Wealth Advisors LLC bought a new position in Owens Corning in the 2nd quarter worth about $26,000. Rexford Capital Inc. bought a new stake in Owens Corning during the 2nd quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Owens Corning in the second quarter worth about $30,000. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Owens Corning by 149.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock worth $31,000 after buying an additional 133 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of Owens Corning in the third quarter worth approximately $39,000. 88.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OC. Argus raised shares of Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Barclays upped their price objective on Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Royal Bank Of Canada set a $143.00 target price on Owens Corning in a research note on Friday, January 9th. Citigroup reduced their target price on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Finally, Wells Fargo & Company boosted their price target on Owens Corning from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. 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 given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $151.58.

Owens Corning Stock Up 3.3%

OC opened at $106.48 on Monday. 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 50 day moving average price of $122.88 and a 200-day moving average price of $124.42. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.42. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of -16.64, a PEG ratio of 1.72 and a beta of 1.35.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.26). The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The company’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.22 EPS. Equities research analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

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 annualized dividend and a dividend yield of 3.0%. Owens Corning’s payout ratio is presently -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.