BW Gestao de Investimentos Ltda. Invests $20.37 Million in Owens Corning Inc $OC

Key Points

• BW Gestao de Investimentos Ltda. bought 144,000 shares of Owens Corning (NYSE:OC) in Q3, a new position valued at about $20.37 million, representing roughly 0.9% of the fund's portfolio and ~0.18% ownership of the company.
• Owens Corning recently reported Q results that missed analyst estimates (EPS $1.10 vs. $1.36 expected) with revenue of $2.14 billion, down 16.8% year‑over‑year and a negative net margin of 5.17%.
• The company announced a quarterly dividend of $0.79 per share ($3.16 annualized, ~2.9% yield) with record/ex‑dividend date on March 9 and payment on April 9.

BW Gestao de Investimentos Ltda. acquired a new position in shares of Owens Corning Inc (NYSE:OC - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 144,000 shares of the construction company's stock, valued at approximately $20,370,000. Owens Corning makes up about 0.9% of BW Gestao de Investimentos Ltda.'s portfolio, making the stock its 22nd largest position. BW Gestao de Investimentos Ltda. owned approximately 0.18% of Owens Corning at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ariel Investments LLC raised its position in shares of Owens Corning by 24.8% in the 2nd quarter. Ariel Investments LLC now owns 140,449 shares of the construction company's stock worth $19,315,000 after purchasing an additional 27,871 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in shares of 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. JPMorgan Chase & Co. boosted its holdings in Owens Corning by 6.7% in the second quarter. JPMorgan Chase & Co. now owns 456,952 shares of the construction company's stock worth $62,840,000 after purchasing an additional 28,814 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Owens Corning by 6.1% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 42,020 shares of the construction company's stock worth $5,779,000 after buying an additional 2,421 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in Owens Corning in the third quarter worth about $1,742,000. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Stock Performance

NYSE:OC opened at $107.54 on Tuesday. The company has a market cap of $8.64 billion, a price-to-earnings ratio of -16.80, a PEG ratio of 1.78 and a beta of 1.35. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.42. The stock's 50 day simple moving average is $123.44 and its two-hundred day simple moving average is $125.78. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.70.

Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share for the quarter, missing analysts' consensus estimates of $1.36 by ($0.26). Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same period last year, the business posted $3.22 earnings per share. The company's revenue for the quarter was down 16.8% compared to the same quarter last year. As a group, equities analysts anticipate that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, March 9th. Owens Corning's dividend payout ratio is currently -49.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OC shares. UBS Group boosted their price objective on shares of Owens Corning from $160.00 to $172.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. JPMorgan Chase & Co. dropped their target price on shares of Owens Corning from $157.00 to $113.00 and set a "neutral" rating for the company in a report on Tuesday, November 11th. Royal Bank Of Canada set a $143.00 price objective on Owens Corning in a research report on Friday, January 9th. Barclays lifted their target price on Owens Corning from $130.00 to $138.00 and gave the company an "overweight" rating in a research note on Thursday, January 15th. Finally, Argus raised shares of Owens Corning to a "strong-buy" rating in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $151.58.

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.

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