Schroder Investment Management Group Purchases 47,524 Shares of Owens Corning Inc $OC

Key Points

• Schroder Investment Management Group increased its stake in Owens Corning by 9.4%, buying 47,524 shares to hold 550,775 shares worth about $77.7 million (≈0.67% of the company).
• Quarterly results missed expectations: OC reported $1.10 EPS versus $1.36 expected and $2.14 billion in revenue versus $2.17 billion expected, with revenue down 16.8% year-over-year and a negative net margin of 5.17%.
• Analyst sentiment is mixed but overall favorable, with a consensus rating of "Moderate Buy" and an average price target of $151.58.

Schroder Investment Management Group raised its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 9.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 550,775 shares of the construction company's stock after buying an additional 47,524 shares during the quarter. Schroder Investment Management Group owned about 0.67% of Owens Corning worth $77,692,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of OC. Ossiam boosted its position in shares of Owens Corning by 5.9% during the 2nd quarter. Ossiam now owns 1,254 shares of the construction company's stock valued at $172,000 after acquiring an additional 70 shares during the last quarter. Pitcairn Co. increased its position in Owens Corning by 4.6% in the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company's stock worth $250,000 after purchasing an additional 80 shares during the last quarter. Archer Investment Corp raised its stake in Owens Corning by 13.3% during the third 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. Brown Advisory Inc. raised its stake in Owens Corning by 0.8% during the second quarter. Brown Advisory Inc. now owns 11,847 shares of the construction company's stock valued at $1,629,000 after purchasing an additional 96 shares in the last quarter. Finally, Assetmark Inc. lifted its position in Owens Corning by 51.0% during the second quarter. Assetmark Inc. now owns 299 shares of the construction company's stock valued at $41,000 after purchasing an additional 101 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OC has been the topic of a number of research reports. Evercore reduced their target price on shares of Owens Corning from $121.00 to $117.00 and set an "in-line" rating on the stock in a report on Thursday, December 4th. Barclays lifted their price target on Owens Corning from $130.00 to $138.00 and gave the stock an "overweight" rating in a research report on Thursday, January 15th. JPMorgan Chase & Co. reduced their price objective on Owens Corning from $157.00 to $113.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 11th. Argus upgraded Owens Corning to a "strong-buy" rating in a research report on Wednesday, January 14th. Finally, Zacks Research raised Owens Corning from a "strong sell" rating to a "hold" rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Owens Corning presently has a consensus rating of "Moderate Buy" and an average price target of $151.58.

Owens Corning Stock Down 2.0%

Shares of NYSE:OC opened at $107.54 on Tuesday. The firm has a market capitalization of $8.64 billion, a PE ratio of -16.80, a price-to-earnings-growth ratio of 1.78 and a beta of 1.35. The business has a 50 day simple moving average of $123.44 and a two-hundred day simple moving average of $125.78. 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 results on Wednesday, February 25th. The construction company reported $1.10 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same quarter in the previous year, the company posted $3.22 earnings per share. The company's quarterly revenue was down 16.8% compared to the same quarter last year. On average, equities analysts predict that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Monday, March 9th will be paid a $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a yield of 2.9%. Owens Corning's dividend payout ratio (DPR) is presently -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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