Corient Private Wealth LP bought a new stake in Owens Corning Inc (NYSE:OC – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 30,120 shares of the construction company’s stock, valued at approximately $4,787,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HM Payson & Co. lifted its position in Owens Corning by 203.6% in the second quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock valued at $27,000 after acquiring an additional 112 shares during the last quarter. Fiduciary Financial Advisors purchased a new position in shares of Owens Corning during the second quarter worth about $35,000. Itau Unibanco Holding S.A. purchased a new position in shares of Owens Corning during the fourth quarter worth about $29,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Owens Corning during the first quarter worth about $30,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Owens Corning during the third quarter worth about $42,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.
Owens Corning Stock Down 3.3%
OC opened at $138.34 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10. The business has a 50 day moving average price of $145.43 and a two-hundred day moving average price of $127.78. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.91. The company has a market cap of $10.94 billion, a PE ratio of -17.16, a P/E/G ratio of 2.15 and a beta of 1.32.
Owens Corning Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 20th were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Owens Corning’s dividend payout ratio (DPR) is currently -39.21%.
Analyst Ratings Changes
A number of analysts recently issued reports on OC shares. JPMorgan Chase & Co. upped their target price on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Barclays lifted their price target on Owens Corning from $170.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on Owens Corning from $136.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Citigroup increased their price objective on Owens Corning from $149.00 to $177.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, The Goldman Sachs Group raised their target price on shares of Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.31.
Read Our Latest Report on Owens Corning
Owens Corning 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.
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