Universal Beteiligungs und Servicegesellschaft mbH Purchases 29,258 Shares of Owens Corning Inc $OC

Universal Beteiligungs und Servicegesellschaft mbH grew its position in Owens Corning Inc (NYSE:OC) by 61.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,541 shares of the construction company’s stock after buying an additional 29,258 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.09% of Owens Corning worth $10,827,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Owens Corning during the second quarter valued at approximately $163,719,000. First Trust Advisors LP lifted its position in shares of Owens Corning by 164.6% during the 2nd quarter. First Trust Advisors LP now owns 920,726 shares of the construction company’s stock worth $126,618,000 after buying an additional 572,770 shares during the last quarter. Amundi boosted its stake in Owens Corning by 92.9% in the second quarter. Amundi now owns 1,086,735 shares of the construction company’s stock valued at $157,279,000 after buying an additional 523,376 shares in the last quarter. Marshall Wace LLP grew its position in Owens Corning by 17,614.0% in the second quarter. Marshall Wace LLP now owns 422,832 shares of the construction company’s stock valued at $58,148,000 after acquiring an additional 420,445 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Owens Corning by 70.9% during the second quarter. AQR Capital Management LLC now owns 960,604 shares of the construction company’s stock worth $132,102,000 after acquiring an additional 398,440 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Vertical Research initiated coverage on shares of Owens Corning in a research note on Monday, October 20th. They issued a “hold” rating on the stock. Citigroup decreased their target price on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Wells Fargo & Company increased their price target on Owens Corning from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Barclays boosted their price objective on Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Finally, JPMorgan Chase & Co. dropped their target price on Owens Corning from $157.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.75.

Owens Corning Stock Down 0.8%

Shares of NYSE:OC opened at $124.33 on Friday. The firm has a market cap of $10.22 billion, a P/E ratio of -21.74, a P/E/G ratio of 2.57 and a beta of 1.35. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $192.96. The business has a fifty day simple moving average of $114.24 and a 200 day simple moving average of $130.07. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.05.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.03. Owens Corning had a positive return on equity of 24.42% and a negative net margin of 4.46%.The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the previous year, the company posted $4.38 EPS. The business’s revenue was down 2.9% on a year-over-year basis. Analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Monday, January 5th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, January 5th. This is a positive change from Owens Corning’s previous quarterly dividend of $0.69. Owens Corning’s dividend payout ratio (DPR) is -55.24%.

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.