Lbp Am Sa Has $1.70 Million Stake in Owens Corning Inc $OC

Key Points

• Lbp Am Sa trimmed its stake in Owens Corning by 52.0% in Q4, selling 16,440 shares and leaving it with 15,184 shares valued at about $1.70 million.
• The stock carries a consensus rating of Moderate Buy with a consensus target of $146.64, though analyst views are mixed after several recent downgrades and target adjustments.
• Owens Corning missed quarterly EPS ($1.10 vs. $1.36 expected) and reported revenue down ~16.8% year-over-year, while continuing to pay a quarterly dividend of $0.79 (≈2.6% yield).

Lbp Am Sa trimmed its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 52.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,184 shares of the construction company's stock after selling 16,440 shares during the period. Lbp Am Sa's holdings in Owens Corning were worth $1,699,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. State Street Corp grew its stake in Owens Corning by 2.3% during the third quarter. State Street Corp now owns 3,634,987 shares of the construction company's stock worth $514,205,000 after buying an additional 81,133 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Owens Corning by 6.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,930,632 shares of the construction company's stock valued at $273,101,000 after purchasing an additional 110,452 shares in the last quarter. Davis Selected Advisers boosted its stake in shares of Owens Corning by 0.5% in the 3rd quarter. Davis Selected Advisers now owns 1,777,367 shares of the construction company's stock valued at $251,426,000 after purchasing an additional 8,274 shares in the last quarter. LSV Asset Management boosted its stake in shares of Owens Corning by 0.3% in the 3rd quarter. LSV Asset Management now owns 1,449,562 shares of the construction company's stock valued at $205,055,000 after purchasing an additional 4,370 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Owens Corning by 27.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,228,640 shares of the construction company's stock valued at $173,201,000 after purchasing an additional 268,036 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OC. Zacks Research downgraded shares of Owens Corning from a "hold" rating to a "strong sell" rating in a research note on Monday, March 16th. Citigroup reduced their price target on shares of Owens Corning from $137.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, January 8th. Weiss Ratings restated a "sell (d+)" rating on shares of Owens Corning in a research note on Friday, March 27th. Royal Bank Of Canada set a $143.00 price target on shares of Owens Corning in a research note on Friday, January 9th. Finally, Wells Fargo & Company raised their price target on shares of Owens Corning from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.64.

Owens Corning Stock Up 4.1%

Shares of NYSE OC opened at $122.65 on Friday. The company has a 50 day simple moving average of $116.28 and a 200 day simple moving average of $117.97. The firm has a market cap of $9.86 billion, a PE ratio of -19.16, a price-to-earnings-growth ratio of 2.02 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 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 issued its quarterly earnings data on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.36 by ($0.26). The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The firm's quarterly revenue was down 16.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.22 EPS. On average, research analysts forecast that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Monday, March 9th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, March 9th. Owens Corning's dividend payout ratio (DPR) is -49.38%.

About Owens Corning

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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