Chilton Capital Management LLC Buys Shares of 267 Owens Corning Inc $OC

Chilton Capital Management LLC purchased a new position in Owens Corning Inc (NYSE:OC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 267 shares of the construction company’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Archer Investment Corp lifted its holdings in shares of Owens Corning by 17.9% during the 1st quarter. Archer Investment Corp now owns 660 shares of the construction company’s stock valued at $94,000 after buying an additional 100 shares during the period. Resonant Capital Advisors LLC increased its position in Owens Corning by 6.3% during the first quarter. Resonant Capital Advisors LLC now owns 1,745 shares of the construction company’s stock valued at $250,000 after acquiring an additional 103 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in Owens Corning by 6.7% in the first quarter. CreativeOne Wealth LLC now owns 1,649 shares of the construction company’s stock valued at $236,000 after acquiring an additional 103 shares during the period. Sequoia Financial Advisors LLC boosted its position in Owens Corning by 7.5% in the first quarter. Sequoia Financial Advisors LLC now owns 1,823 shares of the construction company’s stock worth $260,000 after purchasing an additional 127 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Owens Corning by 6.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,443 shares of the construction company’s stock valued at $349,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 0.6%

OC opened at $127.87 on Monday. The stock has a market cap of $10.69 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 9.33 and a beta of 1.32. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52. The firm’s fifty day moving average is $142.69 and its 200 day moving average is $141.19. Owens Corning Inc has a fifty-two week low of $123.23 and a fifty-two week high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.41. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the firm earned $4.64 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Monday, October 20th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $2.76 dividend on an annualized basis and a yield of 2.2%. Owens Corning’s payout ratio is currently 71.69%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Owens Corning from $170.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Zacks Research downgraded shares of Owens Corning from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Jefferies Financial Group cut their price objective on shares of Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. UBS Group decreased their target price on Owens Corning from $218.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Finally, Royal Bank Of Canada cut their price target on Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Ten investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $178.31.

Owens Corning Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.