ABN AMRO Bank N.V. Raises Stock Holdings in Owens Corning Inc $OC

ABN AMRO Bank N.V. raised its holdings in shares of Owens Corning Inc (NYSE:OC) by 1.7% in the third quarter, Holdings Channel.com reports. The firm owned 253,645 shares of the construction company’s stock after buying an additional 4,129 shares during the period. ABN AMRO Bank N.V.’s holdings in Owens Corning were worth $35,765,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Bessemer Group Inc. boosted its stake in shares of Owens Corning by 19.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,093 shares of the construction company’s stock valued at $154,000 after buying an additional 178 shares during the last quarter. Optimize Financial Inc acquired a new stake in Owens Corning in the third quarter valued at $288,000. Hantz Financial Services Inc. boosted its stake in Owens Corning by 19.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,813 shares of the construction company’s stock valued at $398,000 after acquiring an additional 465 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in Owens Corning by 231.4% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock valued at $6,909,000 after acquiring an additional 34,106 shares during the last quarter. Finally, Strengthening Families & Communities LLC acquired a new position in Owens Corning during the 3rd quarter worth $1,951,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Price Performance

Shares of NYSE OC opened at $132.77 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 0.86. The firm has a market capitalization of $10.91 billion, a PE ratio of -23.21, a P/E/G ratio of 2.62 and a beta of 1.36. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $186.18. The business’s fifty day moving average price is $117.41 and its two-hundred day moving average price is $128.89.

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

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Monday, January 5th were given a $0.79 dividend. This is a positive change from Owens Corning’s previous quarterly dividend of $0.69. The ex-dividend date was Monday, January 5th. This represents a $3.16 annualized dividend and a yield of 2.4%. Owens Corning’s payout ratio is currently -55.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OC shares. UBS Group cut their target price on shares of Owens Corning from $179.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Wells Fargo & Company upped their price objective on Owens Corning from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Barclays lifted their target price 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, Evercore ISI dropped their price target on Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus target price of $149.75.

Owens Corning 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.