Zurcher Kantonalbank Zurich Cantonalbank Has $7.43 Million Stock Position in Owens Corning Inc $OC

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Owens Corning Inc (NYSE:OC) by 83.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,372 shares of the construction company’s stock after selling 340,240 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Owens Corning were worth $7,428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pitcairn Co. boosted its holdings in shares of Owens Corning by 4.6% in the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock worth $250,000 after buying an additional 80 shares during the period. Archer Investment Corp boosted its holdings in shares of Owens Corning by 13.3% in the third quarter. Archer Investment Corp now owns 748 shares of the construction company’s stock worth $106,000 after buying an additional 88 shares during the period. Pallas Capital Advisors LLC boosted its holdings in shares of Owens Corning by 2.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 3,997 shares of the construction company’s stock worth $447,000 after buying an additional 104 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Owens Corning by 7.2% in the third quarter. Park Avenue Securities LLC now owns 1,652 shares of the construction company’s stock worth $234,000 after buying an additional 111 shares during the period. Finally, NorthCrest Asset Manangement LLC boosted its holdings in shares of Owens Corning by 0.8% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 14,303 shares of the construction company’s stock worth $1,626,000 after buying an additional 117 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on OC shares. Barclays decreased their target price on shares of Owens Corning from $138.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Citigroup decreased their price target on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Wells Fargo & Company raised their price target on shares of Owens Corning from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Royal Bank Of Canada set a $143.00 price target 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 equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and a consensus price target of $143.91.

Owens Corning Stock Performance

OC stock opened at $125.74 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.70 and a current ratio of 1.26. The stock has a market cap of $10.11 billion, a P/E ratio of -19.65, a P/E/G ratio of 2.17 and a beta of 1.35. The firm has a 50 day simple moving average of $115.21 and a 200 day simple moving average of $117.50. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.42.

Owens Corning (NYSE:OC) last posted its quarterly 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). The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The business’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.22 earnings per share. Research analysts anticipate that Owens Corning Inc will post 9.39 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Monday, March 9th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, March 9th. Owens Corning’s dividend payout ratio (DPR) is presently -49.38%.

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.