Rathbones Group PLC Grows Stock Holdings in Owens Corning Inc $OC

Rathbones Group PLC increased its stake in shares of Owens Corning Inc (NYSE:OC) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,818 shares of the construction company’s stock after buying an additional 4,965 shares during the quarter. Rathbones Group PLC owned about 0.07% of Owens Corning worth $6,806,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rexford Capital Inc. purchased a new position in shares of Owens Corning during the second quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Owens Corning during the second quarter worth about $30,000. Root Financial Partners LLC purchased a new position in shares of Owens Corning during the third quarter worth about $39,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Owens Corning during the third quarter worth about $42,000. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Owens Corning by 3,766.7% during the third quarter. SJS Investment Consulting Inc. now owns 348 shares of the construction company’s stock worth $49,000 after buying an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on OC. UBS Group raised their price target on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Wells Fargo & Company lifted their price objective on Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a report on Friday, March 27th. Argus raised Owens Corning to a “strong-buy” rating in a report on Wednesday, January 14th. Finally, Zacks Research lowered Owens Corning from a “hold” rating to a “strong sell” rating in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $148.73.

Owens Corning Price Performance

Shares of OC opened at $106.25 on Tuesday. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.42. The stock’s 50 day moving average is $118.03 and its two-hundred day moving average is $119.34. The firm has a market capitalization of $8.54 billion, a PE ratio of -16.60, a P/E/G ratio of 1.71 and a beta of 1.35. The company has a current ratio of 1.26, a quick ratio of 0.70 and a debt-to-equity ratio of 1.20.

Owens Corning (NYSE:OC) last announced 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 firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.Owens Corning’s revenue was down 16.8% compared to the same quarter last year. During the same period last year, the firm earned $3.22 EPS. Research analysts anticipate that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $3.16 annualized dividend and a dividend yield of 3.0%. Owens Corning’s payout ratio is -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.