LSV Asset Management Acquires 4,370 Shares of Owens Corning Inc $OC

LSV Asset Management grew its holdings in Owens Corning Inc (NYSE:OC) by 0.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,449,562 shares of the construction company’s stock after acquiring an additional 4,370 shares during the quarter. LSV Asset Management owned 1.73% of Owens Corning worth $205,055,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new position in Owens Corning during the 2nd quarter valued at $26,000. Rexford Capital Inc. acquired a new stake in Owens Corning in the 2nd quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Owens Corning during the 2nd quarter worth about $30,000. Vermillion & White Wealth Management Group LLC raised its position 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 buying an additional 133 shares during the last quarter. Finally, Chilton Capital Management LLC acquired a new position in shares of Owens Corning during the second quarter valued at about $37,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on OC shares. JPMorgan Chase & Co. lowered 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. Royal Bank Of Canada set a $143.00 price objective on Owens Corning in a research report on Friday, January 9th. Wells Fargo & Company boosted their price objective on Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup reduced their target price on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and an average price target of $150.58.

Owens Corning Price Performance

Owens Corning stock opened at $138.52 on Thursday. The business has a 50 day simple moving average of $119.72 and a 200 day simple moving average of $128.63. 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 company has a market capitalization of $11.38 billion, a PE ratio of -24.22, a price-to-earnings-growth ratio of 2.89 and a beta of 1.36. Owens Corning Inc has a one year low of $97.53 and a one year high of $179.82.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, March 9th. Owens Corning’s payout ratio is currently -55.24%.

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.