Focus Partners Advisor Solutions LLC Raises Stock Holdings in Owens Corning Inc $OC

Focus Partners Advisor Solutions LLC boosted its holdings in shares of Owens Corning Inc (NYSE:OC) by 120.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,087 shares of the construction company’s stock after purchasing an additional 1,687 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Owens Corning were worth $425,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Owens Corning by 12.0% during the first 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 lifted its position in shares of Owens Corning by 67.3% in the first 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 acquiring an additional 957,295 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Owens Corning by 0.7% in the second quarter. Nordea Investment Management AB now owns 2,225,800 shares of the construction company’s stock valued at $305,291,000 after acquiring an additional 15,927 shares in the last quarter. LSV Asset Management lifted its position in shares of Owens Corning by 1.9% in the first quarter. LSV Asset Management now owns 1,476,067 shares of the construction company’s stock valued at $210,812,000 after acquiring an additional 27,185 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Owens Corning by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 865,665 shares of the construction company’s stock valued at $123,634,000 after acquiring an additional 5,819 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $124.72 on Friday. Owens Corning Inc has a one year low of $123.02 and a one year high of $214.53. The company has a market cap of $10.43 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 9.10 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 business’s 50 day moving average price is $140.78 and its 200 day moving average price is $140.82.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, topping 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 firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the business posted $4.64 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, research analysts predict that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Monday, October 20th will be given a dividend of $0.69 per share. 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 presently 71.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Owens Corning in a research report on Wednesday, October 8th. Royal Bank Of Canada decreased their target price on Owens Corning from $184.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Barclays raised their target price on Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Wells Fargo & Company raised their target price on Owens Corning from $170.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Finally, 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 research 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 issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

About Owens Corning

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.