Kera Capital Partners Inc. Invests $238,000 in Owens Corning Inc $OC

Key Points

• Kera Capital Partners Inc. invested $238,000 in Owens Corning Inc. by acquiring 1,728 shares during the second quarter.
• Owens Corning reported a quarterly EPS of $4.21, exceeding analysts' estimates, alongside a revenue of $2.75 billion, marking a 10% year-over-year increase.
• A number of analysts have raised their target prices for Owens Corning, with an average price target of $185.10 and a current consensus rating of "Moderate Buy."

Kera Capital Partners Inc. acquired a new position in shares of Owens Corning Inc (NYSE:OC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,728 shares of the construction company's stock, valued at approximately $238,000.

A number of other large investors also recently modified their holdings of OC. OneDigital Investment Advisors LLC raised its holdings in shares of Owens Corning by 33.3% in the 1st quarter. OneDigital Investment Advisors LLC now owns 1,639 shares of the construction company's stock valued at $234,000 after purchasing an additional 409 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Owens Corning by 11.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,921 shares of the construction company's stock valued at $4,416,000 after purchasing an additional 3,298 shares during the period. Wedge Capital Management L L P NC raised its holdings in shares of Owens Corning by 32.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 72,848 shares of the construction company's stock valued at $10,404,000 after purchasing an additional 17,660 shares during the period. Moran Wealth Management LLC raised its holdings in shares of Owens Corning by 31.4% in the 1st quarter. Moran Wealth Management LLC now owns 140,568 shares of the construction company's stock valued at $20,076,000 after purchasing an additional 33,631 shares during the period. Finally, Unigestion Holding SA bought a new stake in shares of Owens Corning in the 1st quarter valued at about $2,921,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OC. Wells Fargo & Company upped their target price on shares of Owens Corning from $170.00 to $175.00 and gave the company an "overweight" rating in a report on Thursday. Royal Bank Of Canada dropped their target price on shares of Owens Corning from $184.00 to $180.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Barclays raised their price objective on shares of Owens Corning from $167.00 to $173.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Evercore ISI upped their target price 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. Finally, UBS Group lowered their target price on Owens Corning from $218.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Owens Corning presently has an average rating of "Moderate Buy" and a consensus price target of $185.10.

Owens Corning Trading Down 3.4%

Shares of NYSE:OC opened at $152.36 on Monday. The company has a market capitalization of $12.74 billion, a P/E ratio of 39.57, a P/E/G ratio of 10.78 and a beta of 1.32. Owens Corning Inc has a 1 year low of $123.40 and a 1 year high of $214.53. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. The business's 50 day simple moving average is $147.39 and its 200 day simple moving average is $142.53.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.80 by $0.41. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The firm's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.64 earnings per share. On average, research analysts anticipate 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 was paid on Thursday, August 7th. Investors of record on Monday, July 21st were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $2.76 dividend on an annualized basis and a yield of 1.8%. Owens Corning's dividend payout ratio is currently 71.69%.

About Owens Corning

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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