Caprock Group LLC Invests $1.74 Million in Owens Corning Inc $OC

Caprock Group LLC acquired a new stake in Owens Corning Inc (NYSE:OC) in the third quarter, HoldingsChannel reports. The firm acquired 11,600 shares of the construction company’s stock, valued at approximately $1,742,000.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in shares of Owens Corning by 61.7% during the first quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after acquiring an additional 184 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Owens Corning during the 2nd quarter worth $277,000. US Bancorp DE lifted its holdings in Owens Corning by 26.5% during the 2nd quarter. US Bancorp DE now owns 7,845 shares of the construction company’s stock worth $1,079,000 after buying an additional 1,642 shares during the period. IFP Advisors Inc grew its position in shares of Owens Corning by 76.0% in the 2nd quarter. IFP Advisors Inc now owns 461 shares of the construction company’s stock valued at $63,000 after buying an additional 199 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Owens Corning by 21.6% in the 2nd quarter. Blue Trust Inc. now owns 928 shares of the construction company’s stock valued at $128,000 after buying an additional 165 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on OC. JPMorgan Chase & Co. cut their price objective on Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Vertical Research assumed coverage on shares of Owens Corning in a research report on Monday, October 20th. They issued a “hold” rating on the stock. Citigroup decreased their price objective on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Wells Fargo & Company boosted their target price on shares of Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Evercore decreased their price target on Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a report on Thursday, December 4th. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $150.58.

Owens Corning Trading Down 0.8%

NYSE:OC opened at $134.16 on Friday. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $179.82. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $11.03 billion, a price-to-earnings ratio of -23.45, a PEG ratio of 2.83 and a beta of 1.36. The firm has a fifty day simple moving average of $120.59 and a two-hundred day simple moving average of $128.61.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, March 9th. Owens Corning’s payout ratio is presently -55.24%.

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.