Clean Energy Transition LLP Invests $75.20 Million in Owens Corning Inc $OC

Clean Energy Transition LLP purchased a new stake in shares of Owens Corning Inc (NYSE:OC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 531,618 shares of the construction company’s stock, valued at approximately $75,203,000. Owens Corning accounts for approximately 5.5% of Clean Energy Transition LLP’s holdings, making the stock its 6th biggest position. Clean Energy Transition LLP owned about 0.65% of Owens Corning as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC bought a new stake in Owens Corning during the 2nd quarter valued at approximately $26,000. Rexford Capital Inc. bought a new position in shares of Owens Corning in the 2nd quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Owens Corning in the 2nd quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC boosted its position in shares of Owens Corning by 149.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock valued at $31,000 after purchasing an additional 133 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in Owens Corning in the third quarter worth $39,000. 88.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on OC. JPMorgan Chase & Co. dropped their target price on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Barclays lifted their price target on shares of Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a report on Monday, December 29th. Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Argus raised Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. One investment 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $151.58.

Owens Corning Stock Down 0.2%

Shares of Owens Corning stock opened at $121.99 on Friday. The company has a 50-day simple moving average of $123.51 and a two-hundred day simple moving average of $127.56. The stock has a market capitalization of $9.81 billion, a PE ratio of -19.06, a price-to-earnings-growth ratio of 2.57 and a beta of 1.36. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.42. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.86 and a current ratio of 1.26.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share 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 the consensus estimate of $2.17 billion. Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. Owens Corning’s revenue was down 16.8% on a year-over-year basis. During the same period last year, the business earned $3.22 EPS. On average, analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm 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 $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. Owens Corning’s payout ratio is currently -49.38%.

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.