Owens Corning Inc $OC Shares Acquired by Teachers Retirement System of The State of Kentucky

Key Points

• Teachers Retirement System of Kentucky boosted its stake in Owens Corning by 367% in Q4, buying 103,000 shares to hold 131,065 shares (about 0.16% of the company) valued at ~$14.67 million.
• Owens Corning missed Q4 estimates, reporting $1.10 EPS vs. $1.36 expected and $2.14B revenue vs. $2.17B expected; revenue was down 16.8% year‑over‑year and the company showed a negative net margin of 5.17%.
• Analysts show a "Moderate Buy" consensus with an average price target of $145.09 (UBS lifted its target to $172 while other firms adjusted targets), and the company recently paid a $0.79 quarterly dividend (annualized $3.16, ~2.5% yield).

Teachers Retirement System of The State of Kentucky boosted its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 367.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,065 shares of the construction company's stock after buying an additional 103,000 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.16% of Owens Corning worth $14,668,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pitcairn Co. lifted its holdings in Owens Corning by 4.6% in the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company's stock valued at $250,000 after acquiring an additional 80 shares during the last quarter. Archer Investment Corp raised its holdings in shares of Owens Corning by 13.3% in the 3rd quarter. Archer Investment Corp now owns 748 shares of the construction company's stock worth $106,000 after purchasing an additional 88 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of Owens Corning by 2.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 3,997 shares of the construction company's stock worth $447,000 after purchasing an additional 104 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Owens Corning by 7.2% during the third quarter. Park Avenue Securities LLC now owns 1,652 shares of the construction company's stock valued at $234,000 after purchasing an additional 111 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its holdings in Owens Corning by 0.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 14,303 shares of the construction company's stock worth $1,626,000 after buying an additional 117 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OC. UBS Group lifted their price target on shares of Owens Corning from $160.00 to $172.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Barclays reduced their price objective on Owens Corning from $138.00 to $135.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. Citigroup decreased their target price on Owens Corning from $137.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, January 8th. Bank of America cut their target price on Owens Corning from $140.00 to $138.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Finally, Wells Fargo & Company upped their target price on Owens Corning from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $145.09.

Owens Corning Stock Up 0.1%

OC stock opened at $125.76 on Monday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.70. The firm has a market capitalization of $10.11 billion, a P/E ratio of -19.65, a P/E/G ratio of 2.22 and a beta of 1.35. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.42. The company's 50 day simple moving average is $115.04 and its 200-day simple moving average is $117.19.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The construction company reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.36 by ($0.26). Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the business posted $3.22 EPS. The company's revenue for the quarter was down 16.8% on a year-over-year basis. As a group, equities research analysts anticipate that Owens Corning Inc will post 9.39 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Monday, March 9th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend 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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