Cwm LLC Has $6.09 Million Holdings in Owens Corning Inc $OC

Cwm LLC increased its holdings in Owens Corning Inc (NYSE:OC - Free Report) by 40.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,279 shares of the construction company's stock after buying an additional 12,802 shares during the period. Cwm LLC owned 0.05% of Owens Corning worth $6,089,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OC. Wealth Enhancement Advisory Services LLC raised its position in shares of Owens Corning by 21.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,720 shares of the construction company's stock valued at $1,245,000 after buying an additional 1,558 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Owens Corning in the first quarter valued at approximately $211,000. QRG Capital Management Inc. raised its position in shares of Owens Corning by 1.8% in the first quarter. QRG Capital Management Inc. now owns 20,325 shares of the construction company's stock valued at $2,903,000 after buying an additional 361 shares in the last quarter. Financial Partners Group LLC raised its position in shares of Owens Corning by 18.0% in the first quarter. Financial Partners Group LLC now owns 9,735 shares of the construction company's stock valued at $1,390,000 after buying an additional 1,482 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its position in shares of Owens Corning by 23.8% in the first quarter. CWA Asset Management Group LLC now owns 9,526 shares of the construction company's stock valued at $1,361,000 after buying an additional 1,829 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OC. Royal Bank Of Canada dropped their price target on shares of Owens Corning from $184.00 to $180.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Jefferies Financial Group decreased their price objective on shares of Owens Corning from $185.00 to $180.00 and set a "buy" rating on the stock in a research note on Tuesday, October 7th. Barclays lifted their price objective on shares of Owens Corning from $167.00 to $173.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Truist Financial decreased their price objective on shares of Owens Corning from $165.00 to $135.00 and set a "hold" rating on the stock in a research note on Thursday, October 9th. Finally, Bank of America decreased their price objective on shares of Owens Corning from $180.00 to $168.00 and set a "buy" rating on the stock in a research note on Wednesday, October 1st. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Owens Corning has a consensus rating of "Moderate Buy" and an average price target of $178.31.

Owens Corning Stock Performance

NYSE OC opened at $127.42 on Thursday. The firm's fifty day moving average price is $145.59 and its two-hundred day moving average price is $141.54. The stock has a market cap of $10.66 billion, a PE ratio of 33.10, a PEG ratio of 9.32 and a beta of 1.32. Owens Corning Inc has a fifty-two week low of $123.23 and a fifty-two week high of $214.53. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52.

Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, topping analysts' consensus estimates of $3.80 by $0.41. The firm had revenue of $2.75 billion for 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 company's revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.64 earnings per share. On average, equities analysts expect that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning's payout ratio is presently 71.69%.

Owens Corning 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.

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