IFM Investors Pty Ltd Boosts Stock Position in Owens Corning (NYSE:OC)

IFM Investors Pty Ltd boosted its holdings in Owens Corning (NYSE:OCGet Rating) by 22.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,186 shares of the construction company’s stock after purchasing an additional 4,776 shares during the period. IFM Investors Pty Ltd’s holdings in Owens Corning were worth $2,396,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp lifted its position in shares of Owens Corning by 9.2% during the 4th quarter. State Street Corp now owns 4,890,796 shares of the construction company’s stock valued at $442,617,000 after buying an additional 413,742 shares during the last quarter. Millennium Management LLC lifted its position in shares of Owens Corning by 78.3% during the 4th quarter. Millennium Management LLC now owns 900,714 shares of the construction company’s stock valued at $81,515,000 after buying an additional 395,541 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Owens Corning during the 4th quarter valued at $24,040,000. SG Americas Securities LLC lifted its position in shares of Owens Corning by 836.4% during the 4th quarter. SG Americas Securities LLC now owns 291,234 shares of the construction company’s stock valued at $26,357,000 after buying an additional 260,134 shares during the last quarter. Finally, Lodge Hill Capital LLC purchased a new position in shares of Owens Corning during the 4th quarter valued at $18,553,000. Hedge funds and other institutional investors own 92.55% of the company’s stock.

Wall Street Analyst Weigh In

OC has been the topic of a number of recent research reports. UBS Group dropped their price target on Owens Corning from $137.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Wells Fargo & Company increased their price objective on Owens Corning from $83.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. StockNews.com raised Owens Corning from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Loop Capital dropped their price objective on Owens Corning from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, April 8th. Finally, Barclays dropped their price objective on Owens Corning from $100.00 to $91.00 and set an “equal weight” rating on the stock in a report on Thursday, July 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $102.92.

Insider Activity at Owens Corning

In related news, VP Kelly Schmidt sold 1,940 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $91.93, for a total transaction of $178,344.20. Following the completion of the sale, the vice president now directly owns 15,083 shares in the company, valued at approximately $1,386,580.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.44% of the stock is currently owned by company insiders.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $86.30 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.23 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $8.31 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 0.75 and a beta of 1.51. The business’s 50-day moving average price is $83.95 and its 200-day moving average price is $88.67. Owens Corning has a 12 month low of $72.97 and a 12 month high of $101.12.

Owens Corning (NYSE:OCGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The construction company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.31 by $0.52. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.58 billion. Owens Corning had a return on equity of 26.22% and a net margin of 12.20%. The company’s revenue was up 16.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.60 EPS. Sell-side analysts forecast that Owens Corning will post 12.41 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 4th. Investors of record on Monday, July 18th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.62%. The ex-dividend date was Friday, July 15th. Owens Corning’s dividend payout ratio is presently 12.44%.

Owens Corning Company Profile

(Get Rating)

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

Further Reading

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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