Asset Management One Co. Ltd. Sells 989 Shares of Owens Corning Inc $OC

Asset Management One Co. Ltd. decreased its position in shares of Owens Corning Inc (NYSE:OC) by 3.0% in the 2nd quarter, Holdings Channel reports. The fund owned 31,470 shares of the construction company’s stock after selling 989 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Owens Corning were worth $4,328,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in OC. Vanguard Group Inc. lifted its holdings in Owens Corning by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 9,815,685 shares of the construction company’s stock worth $1,401,876,000 after purchasing an additional 1,053,855 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Owens Corning by 67.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,380,123 shares of the construction company’s stock valued at $339,930,000 after purchasing an additional 957,295 shares during the last quarter. Nuveen LLC bought a new position in shares of Owens Corning during the 1st quarter valued at about $91,698,000. Millennium Management LLC grew its position in Owens Corning by 179.0% during the 1st quarter. Millennium Management LLC now owns 863,230 shares of the construction company’s stock worth $123,287,000 after acquiring an additional 553,864 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Owens Corning during the 2nd quarter worth approximately $54,030,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OC shares. UBS Group cut their price objective on Owens Corning from $218.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Royal Bank Of Canada lowered their price objective on Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Jefferies Financial Group decreased their price target on Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Evercore ISI reduced their price objective on Owens Corning from $169.00 to $153.00 and set an “in-line” rating for the company in a research report on Tuesday, October 7th. Finally, Truist Financial reduced their price objective on Owens Corning from $165.00 to $135.00 and set a “hold” rating for the company in a research report on Thursday, October 9th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $178.31.

Owens Corning Trading Down 0.4%

Shares of NYSE OC opened at $127.00 on Wednesday. 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 business’s 50 day moving average price is $141.73 and its 200-day moving average price is $141.04. Owens Corning Inc has a fifty-two week low of $123.23 and a fifty-two week high of $214.53. The company has a market cap of $10.62 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 9.31 and a beta of 1.32.

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

Owens Corning Dividend Announcement

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

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.