Caxton Associates LLP bought a new stake in shares of Owens Corning Inc (NYSE:OC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,507 shares of the construction company's stock, valued at approximately $1,501,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OC. Wayfinding Financial LLC purchased a new position in shares of Owens Corning during the 1st quarter worth $60,000. Archer Investment Corp boosted its stake in shares of Owens Corning by 17.9% during the 1st quarter. Archer Investment Corp now owns 660 shares of the construction company's stock worth $94,000 after acquiring an additional 100 shares during the last quarter. Quarry LP boosted its stake in shares of Owens Corning by 36.0% during the 1st quarter. Quarry LP now owns 676 shares of the construction company's stock worth $97,000 after acquiring an additional 179 shares during the last quarter. Bayforest Capital Ltd purchased a new position in shares of Owens Corning during the 1st quarter worth $100,000. Finally, Palouse Capital Management Inc. boosted its stake in shares of Owens Corning by 50.0% during the 1st quarter. Palouse Capital Management Inc. now owns 786 shares of the construction company's stock worth $112,000 after acquiring an additional 262 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.
Owens Corning Price Performance
NYSE OC traded up $0.58 on Monday, reaching $152.86. The company had a trading volume of 147,948 shares, compared to its average volume of 926,295. The company has a quick ratio of 0.95, a current ratio of 1.52 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $12.78 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 10.78 and a beta of 1.32. The firm's 50 day moving average price is $147.39 and its 200 day moving average price is $142.53. Owens Corning Inc has a 12 month low of $123.40 and a 12 month high of $214.53.
Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, topping analysts' consensus estimates of $3.80 by $0.41. The business had revenue of $2.75 billion during the quarter, compared to analysts' expectations of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The business's revenue was up 10.0% on a year-over-year basis. During the same period last year, the company posted $4.64 EPS. As a group, equities analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current year.
Owens Corning Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Monday, July 21st were issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.8%. Owens Corning's dividend payout ratio (DPR) is presently 71.69%.
Analyst Upgrades and Downgrades
OC has been the subject of a number of analyst reports. Barclays increased their price objective on shares of Owens Corning from $167.00 to $173.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Evercore ISI increased their price objective on shares of Owens Corning from $165.00 to $169.00 and gave the stock an "in-line" rating in a research note on Friday, August 8th. Royal Bank Of Canada reduced their price objective on shares of Owens Corning from $184.00 to $180.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company increased their price objective on shares of Owens Corning from $170.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, UBS Group reduced their price objective on shares of Owens Corning from $218.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Owens Corning currently has a consensus rating of "Moderate Buy" and a consensus target price of $185.10.
Read Our Latest Report on Owens Corning
About Owens Corning
(
Free Report)
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.
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