Flinton Capital Management LLC boosted its position in shares of Owens Corning (NYSE:OC) by 24.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,688 shares of the construction company’s stock after buying an additional 15,664 shares during the quarter. Flinton Capital Management LLC owned 0.07% of Owens Corning worth $7,418,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Meadow Creek Investment Management LLC boosted its stake in Owens Corning by 24.1% during the fourth quarter. Meadow Creek Investment Management LLC now owns 110,946 shares of the construction company’s stock worth $10,200,000 after buying an additional 21,538 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in Owens Corning by 4.2% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,880 shares of the construction company’s stock worth $2,104,000 after buying an additional 919 shares during the period. California State Teachers Retirement System boosted its stake in Owens Corning by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 189,731 shares of the construction company’s stock worth $17,444,000 after buying an additional 800 shares during the period. Two Sigma Securities LLC purchased a new position in Owens Corning during the fourth quarter worth $263,000. Finally, Two Sigma Investments LP boosted its stake in Owens Corning by 12.3% during the fourth quarter. Two Sigma Investments LP now owns 124,829 shares of the construction company’s stock worth $11,477,000 after buying an additional 13,651 shares during the period. 92.74% of the stock is owned by institutional investors.
Several research analysts have commented on the stock. Royal Bank of Canada set a $102.00 price objective on shares of Owens Corning and gave the stock a “buy” rating in a research note on Friday, February 23rd. MKM Partners boosted their target price on shares of Owens Corning to $86.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Credit Suisse Group reissued an “outperform” rating and set a $110.00 target price (up from $95.00) on shares of Owens Corning in a research note on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Thursday, January 18th. Finally, KeyCorp reissued a “buy” rating and set a $115.00 target price on shares of Owens Corning in a research note on Friday, January 12th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $87.95.
Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, February 21st. The construction company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.07. Owens Corning had a net margin of 4.53% and a return on equity of 12.26%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. sell-side analysts predict that Owens Corning will post 5.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Thursday, March 8th. Owens Corning’s dividend payout ratio (DPR) is presently 32.94%.
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About Owens Corning
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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