Semanteon Capital Management LP Makes New Investment in Owens Corning Inc $OC

Semanteon Capital Management LP acquired a new position in shares of Owens Corning Inc (NYSE:OC) during the 3rd quarter, Holdings Channel reports. The fund acquired 4,002 shares of the construction company’s stock, valued at approximately $566,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Lansforsakringar Fondforvaltning AB publ boosted its stake in Owens Corning by 46.2% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 150,293 shares of the construction company’s stock worth $21,260,000 after buying an additional 47,502 shares during the last quarter. Raiffeisen Bank International AG lifted its holdings in shares of Owens Corning by 5.0% during the 3rd quarter. Raiffeisen Bank International AG now owns 314,417 shares of the construction company’s stock worth $44,352,000 after acquiring an additional 14,943 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Owens Corning during the third quarter worth approximately $341,000. Syon Capital LLC purchased a new position in Owens Corning during the third quarter worth approximately $501,000. Finally, Advisors Capital Management LLC raised its stake in Owens Corning by 1.5% during the third quarter. Advisors Capital Management LLC now owns 54,166 shares of the construction company’s stock worth $7,662,000 after purchasing an additional 826 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Up 0.8%

Shares of OC opened at $132.74 on Friday. The stock’s 50-day moving average is $122.50 and its two-hundred day moving average is $128.30. The stock has a market cap of $10.91 billion, a PE ratio of -23.21, a P/E/G ratio of 2.78 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 0.86. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $173.63.

Owens Corning Announces Dividend

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 given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, March 9th. Owens Corning’s payout ratio is presently -55.24%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Zacks Research raised shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Wells Fargo & Company boosted their price target on Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Citigroup dropped their price target on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Evercore cut their price objective on Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a report on Thursday, December 4th. Finally, Royal Bank Of Canada set a $143.00 target price on Owens Corning in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $150.58.

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.