Stableford Capital II LLC Makes New Investment in Owens Corning Inc $OC

Stableford Capital II LLC purchased a new position in shares of Owens Corning Inc (NYSE:OC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 7,598 shares of the construction company’s stock, valued at approximately $850,000.

Several other institutional investors have also made changes to their positions in OC. State Street Corp increased its holdings in Owens Corning by 2.3% in the third quarter. State Street Corp now owns 3,634,987 shares of the construction company’s stock worth $514,205,000 after buying an additional 81,133 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Owens Corning by 6.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,930,632 shares of the construction company’s stock valued at $273,101,000 after acquiring an additional 110,452 shares during the last quarter. Davis Selected Advisers grew its position in Owens Corning by 0.5% in the third quarter. Davis Selected Advisers now owns 1,777,367 shares of the construction company’s stock worth $251,426,000 after acquiring an additional 8,274 shares in the last quarter. LSV Asset Management increased its stake in shares of Owens Corning by 0.3% during the 3rd quarter. LSV Asset Management now owns 1,449,562 shares of the construction company’s stock worth $205,055,000 after purchasing an additional 4,370 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Owens Corning by 27.9% during the 3rd quarter. AQR Capital Management LLC now owns 1,228,640 shares of the construction company’s stock valued at $173,201,000 after purchasing an additional 268,036 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Price Performance

NYSE OC opened at $107.48 on Friday. The stock has a 50-day simple moving average of $120.53 and a 200 day simple moving average of $122.00. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.42. The stock has a market capitalization of $8.64 billion, a PE ratio of -16.79, a P/E/G ratio of 1.75 and a beta of 1.35. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.70 and a current ratio of 1.26.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the business earned $3.22 EPS. The business’s quarterly revenue was down 16.8% compared to the same quarter last year. Research analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a yield of 2.9%. Owens Corning’s payout ratio is -49.38%.

Analyst Ratings Changes

OC has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 29th. UBS Group raised their target price on Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Barclays boosted their price target on Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Evercore decreased their price target on Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a research note on Thursday, December 4th. Finally, Argus raised Owens Corning to a “strong-buy” rating in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $151.58.

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.