Owens Corning Inc $OC Shares Bought by Quent Capital LLC

Key Points

• Quent Capital LLC increased its stake in Owens Corning by 1,358.2% in Q4, adding 8,217 shares to hold 8,822 shares worth about $987,000, and institutional investors own roughly 88.4% of the stock.
• Owens Corning missed Q4 estimates with EPS of $1.10 (vs. $1.36 expected), reported revenue down 16.8% year-over-year and a negative net margin (-5.17%), despite a 21.93% return on equity.
• Analysts' consensus is a "Moderate Buy" with an average price target of $145.09 (UBS raised its target to $172); the stock trades near $125.76, has a 52-week range of $97.53–$159.42, and yields about 2.5%.

Quent Capital LLC lifted its stake in Owens Corning Inc (NYSE:OC - Free Report) by 1,358.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,822 shares of the construction company's stock after buying an additional 8,217 shares during the quarter. Quent Capital LLC's holdings in Owens Corning were worth $987,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OC. Pitcairn Co. boosted its stake in shares of Owens Corning by 4.6% during the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company's stock worth $250,000 after acquiring an additional 80 shares in the last quarter. Archer Investment Corp increased its stake 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 valued at $106,000 after purchasing an additional 88 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in 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 during the period. Park Avenue Securities LLC raised its holdings in Owens Corning by 7.2% in the 3rd quarter. Park Avenue Securities LLC now owns 1,652 shares of the construction company's stock worth $234,000 after purchasing an additional 111 shares during the period. Finally, NorthCrest Asset Manangement LLC boosted its position 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 purchasing an additional 117 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Royal Bank Of Canada set a $143.00 target price on shares of Owens Corning in a research report on Friday, January 9th. UBS Group raised their price target on shares of Owens Corning from $160.00 to $172.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Wells Fargo & Company lifted their price objective on Owens Corning from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. Zacks Research cut Owens Corning from a "hold" rating to a "strong sell" rating in a report on Monday, March 16th. Finally, Barclays lowered their price target on Owens Corning from $138.00 to $135.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given 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 an average rating of "Moderate Buy" and an average price target of $145.09.

Owens Corning Stock Up 0.1%

NYSE:OC opened at $125.76 on Friday. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.42. The stock's fifty day moving average is $115.04 and its two-hundred day moving average is $117.31. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of -19.65, a price-to-earnings-growth ratio of 2.22 and a beta of 1.35. The company has a quick ratio of 0.70, a current ratio of 1.26 and a debt-to-equity ratio of 1.20.

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

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Monday, March 9th were given a $0.79 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.5%. Owens Corning's dividend payout ratio is currently -49.38%.

Owens Corning Company Profile

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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