Owens Corning Inc $OC Shares Acquired by Banque Pictet & Cie SA

Banque Pictet & Cie SA grew its holdings in Owens Corning Inc (NYSE:OC) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 412,579 shares of the construction company’s stock after purchasing an additional 19,553 shares during the quarter. Banque Pictet & Cie SA owned 0.50% of Owens Corning worth $46,172,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC acquired a new stake in Owens Corning during the 2nd quarter worth approximately $26,000. Rexford Capital Inc. purchased a new position in Owens Corning in the 2nd quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Owens Corning in the second quarter worth $30,000. Root Financial Partners LLC purchased a new stake in shares of Owens Corning during the third quarter worth $39,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Owens Corning during the third quarter worth $42,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on OC. Citigroup decreased 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. Argus upgraded Owens Corning to a “strong-buy” rating in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a research report on Friday, March 27th. Barclays lifted their price objective on Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Finally, Wells Fargo & Company boosted their price objective on Owens Corning from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $148.73.

Owens Corning Price Performance

Owens Corning stock opened at $107.28 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.70 and a debt-to-equity ratio of 1.20. The company has a fifty day simple moving average of $119.12 and a 200-day simple moving average of $120.45. The stock has a market cap of $8.62 billion, a P/E ratio of -16.76, a price-to-earnings-growth ratio of 1.75 and a beta of 1.34. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.42.

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

Owens Corning Dividend Announcement

The firm 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 $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.9%. Owens Corning’s dividend payout ratio is presently -49.38%.

About Owens Corning

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.