Ruffer LLP Sells 6,300 Shares of Owens Corning Inc $OC

Key Points

• Ruffer LLP has reduced its stake in Owens Corning Inc by 18.1%, selling 6,300 shares and leaving them with 28,564 shares valued at approximately $3.93 million.
• Owens Corning recently announced a quarterly dividend of $0.69 per share, with the ex-dividend date set for October 20th, reflecting a 1.9% yield.
• Analysts have a consensus rating of "Moderate Buy" for Owens Corning, with a current average target price of $185.10.

Ruffer LLP cut its stake in Owens Corning Inc (NYSE:OC - Free Report) by 18.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,564 shares of the construction company's stock after selling 6,300 shares during the quarter. Ruffer LLP's holdings in Owens Corning were worth $3,928,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of OC. NorthCrest Asset Manangement LLC lifted its position in shares of Owens Corning by 0.6% during the first quarter. NorthCrest Asset Manangement LLC now owns 13,043 shares of the construction company's stock worth $1,863,000 after purchasing an additional 74 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Owens Corning by 13.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 733 shares of the construction company's stock worth $125,000 after purchasing an additional 85 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Owens Corning by 9.8% during the first quarter. UMB Bank n.a. now owns 1,000 shares of the construction company's stock worth $143,000 after purchasing an additional 89 shares during the last quarter. Archer Investment Corp lifted its position in shares of Owens Corning by 17.9% during the first quarter. Archer Investment Corp now owns 660 shares of the construction company's stock worth $94,000 after purchasing an additional 100 shares during the last quarter. Finally, Resonant Capital Advisors LLC lifted its position in shares of Owens Corning by 6.3% during the first quarter. Resonant Capital Advisors LLC now owns 1,745 shares of the construction company's stock worth $250,000 after purchasing an additional 103 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OC. Evercore ISI lifted their target price on Owens Corning from $165.00 to $169.00 and gave the stock an "in-line" rating in a research report on Friday, August 8th. Royal Bank Of Canada decreased their price objective on Owens Corning from $184.00 to $180.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Wells Fargo & Company lifted their price objective on Owens Corning from $170.00 to $175.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. UBS Group cut 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. Finally, Barclays lifted their target price on Owens Corning from $167.00 to $173.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $185.10.

Owens Corning Stock Down 0.9%

Shares of OC opened at $143.31 on Thursday. 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 Inc has a one year low of $123.40 and a one year high of $214.53. The stock has a market capitalization of $11.99 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 10.24 and a beta of 1.32. The stock has a 50 day moving average price of $147.68 and a 200 day moving average price of $142.54.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly 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 business had revenue of $2.75 billion during the quarter, compared to analysts' expectations of $2.70 billion. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The company's revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $4.64 EPS. Equities research analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Monday, October 20th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning's dividend payout ratio (DPR) is 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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