Baader Bank Aktiengesellschaft Invests $348,000 in Owens Corning Inc $OC

Key Points

• Baader Bank Aktiengesellschaft acquired 2,535 shares of Owens Corning Inc, valued at approximately $348,000, highlighting growing institutional interest in the company.
• Owens Corning recently reported earnings of $4.21 per share, surpassing analysts' expectations, with a 10% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.69 per share, representing a 1.9% yield, with an upcoming ex-dividend date of October 20.

Baader Bank Aktiengesellschaft bought a new stake in shares of Owens Corning Inc (NYSE:OC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,535 shares of the construction company's stock, valued at approximately $348,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its stake in Owens Corning by 33.3% in the 1st quarter. OneDigital Investment Advisors LLC now owns 1,639 shares of the construction company's stock worth $234,000 after purchasing an additional 409 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Owens Corning by 11.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,921 shares of the construction company's stock worth $4,416,000 after acquiring an additional 3,298 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Owens Corning by 32.0% during the first quarter. Wedge Capital Management L L P NC now owns 72,848 shares of the construction company's stock worth $10,404,000 after purchasing an additional 17,660 shares during the period. Moran Wealth Management LLC lifted its holdings in shares of Owens Corning by 31.4% during the first quarter. Moran Wealth Management LLC now owns 140,568 shares of the construction company's stock worth $20,076,000 after purchasing an additional 33,631 shares during the period. Finally, Unigestion Holding SA acquired a new position in Owens Corning in the first quarter valued at approximately $2,921,000. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Price Performance

Shares of OC traded down $2.14 during mid-day trading on Friday, hitting $145.45. The company's stock had a trading volume of 1,885,632 shares, compared to its average volume of 972,789. Owens Corning Inc has a 1-year low of $123.40 and a 1-year high of $214.53. The firm has a market capitalization of $12.16 billion, a P/E ratio of 37.78, a P/E/G ratio of 10.31 and a beta of 1.32. The firm has a 50-day simple moving average of $147.56 and a 200 day simple moving average of $142.55. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.41. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period last year, the business posted $4.64 EPS. Owens Corning's quarterly revenue was up 10.0% on a year-over-year basis. Analysts predict that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $2.76 annualized dividend and a yield of 1.9%. Owens Corning's dividend payout ratio (DPR) is presently 71.69%.

Analyst Ratings Changes

A number of analysts have recently commented on OC shares. Evercore ISI boosted their price objective on Owens Corning from $165.00 to $169.00 and gave the company an "in-line" rating in a research report on Friday, August 8th. Barclays upped their price target on Owens Corning from $167.00 to $173.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Wells Fargo & Company increased their target price on Owens Corning from $170.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Royal Bank Of Canada decreased their target price on Owens Corning from $184.00 to $180.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Finally, UBS Group cut their price target on Owens Corning from $218.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $185.10.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.