National Pension Service Acquires 19,375 Shares of Owens Corning Inc $OC

National Pension Service raised its holdings in shares of Owens Corning Inc (NYSE:OC) by 25.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,495 shares of the construction company’s stock after purchasing an additional 19,375 shares during the quarter. National Pension Service’s holdings in Owens Corning were worth $13,509,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC purchased a new position in Owens Corning in the 2nd quarter worth about $26,000. Rexford Capital Inc. bought a new position in Owens Corning in the 2nd quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Owens Corning during the second quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of Owens Corning by 149.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock valued at $31,000 after acquiring an additional 133 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new stake in shares of Owens Corning in the second quarter valued at approximately $37,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Price Performance

Shares of OC stock opened at $122.23 on Tuesday. The company has a market cap of $10.05 billion, a P/E ratio of -21.37, a PEG ratio of 2.48 and a beta of 1.35. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 0.86. The stock’s 50-day moving average is $116.68 and its 200 day moving average is $128.97. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $186.18.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.03. Owens Corning had a negative net margin of 4.46% and a positive return on equity of 24.42%. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period last year, the business earned $4.38 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. Research analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Monday, January 5th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.6%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.69. The ex-dividend date was Monday, January 5th. Owens Corning’s payout ratio is -55.24%.

Wall Street Analyst Weigh In

Several research analysts have commented on OC shares. Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a report on Monday, December 29th. JPMorgan Chase & Co. cut their price target on Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Evercore ISI decreased their price objective on Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a report on Thursday, December 4th. Royal Bank Of Canada set a $143.00 target price on shares of Owens Corning in a report on Friday, January 9th. Finally, Argus upgraded shares of Owens Corning to a “strong-buy” rating in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.75.

Owens Corning Company 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.