Triodos Investment Management BV Purchases 16,000 Shares of Owens Corning Inc $OC

Key Points

• Triodos Investment Management BV increased its holdings in Owens Corning Inc by 11.4%, acquiring an additional 16,000 shares, making it the 29th largest holding in their portfolio.
• Owens Corning recently announced a quarterly dividend of $0.69, with a 2.1% yield, set to be paid on November 6th to investors of record on October 20th.
• Analysts have mixed ratings on Owens Corning, with ten analysts recommending a "Buy" rating and a lowered average target price of $178.31.

Triodos Investment Management BV lifted its position in Owens Corning Inc (NYSE:OC - Free Report) by 11.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 156,000 shares of the construction company's stock after purchasing an additional 16,000 shares during the period. Owens Corning comprises approximately 1.6% of Triodos Investment Management BV's portfolio, making the stock its 29th biggest holding. Triodos Investment Management BV owned about 0.18% of Owens Corning worth $21,453,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bangor Savings Bank bought a new position in Owens Corning in the 2nd quarter worth about $28,000. Ameritas Advisory Services LLC bought a new position in shares of Owens Corning in the 2nd quarter worth approximately $42,000. Wayfinding Financial LLC purchased a new stake in Owens Corning in the 1st quarter worth approximately $60,000. IFP Advisors Inc increased its holdings in Owens Corning by 76.0% in the 2nd quarter. IFP Advisors Inc now owns 461 shares of the construction company's stock worth $63,000 after acquiring an additional 199 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Owens Corning by 61.7% during the first quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company's stock valued at $69,000 after buying an additional 184 shares during the last quarter. Institutional investors own 88.40% of the company's stock.

Wall Street Analyst Weigh In

OC has been the topic of several recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Owens Corning in a research report on Wednesday. Bank of America lowered their target price on shares of Owens Corning from $180.00 to $168.00 and set a "buy" rating for the company in a report on Wednesday, October 1st. Evercore ISI decreased their target price on Owens Corning from $169.00 to $153.00 and set an "in-line" rating for the company in a research report on Tuesday. Jefferies Financial Group decreased their price objective on Owens Corning from $185.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday. Finally, 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. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $178.31.

Owens Corning Trading Down 3.2%

NYSE OC opened at $129.61 on Friday. The firm's 50-day moving average is $146.71 and its two-hundred day moving average is $142.10. Owens Corning Inc has a 12 month low of $123.40 and a 12 month high of $214.53. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. The stock has a market capitalization of $10.84 billion, a P/E ratio of 33.66, a PEG ratio of 9.62 and a beta of 1.32.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The construction company reported $4.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.41. The business had revenue of $2.75 billion for the quarter, compared to analysts' expectations of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The business's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.64 earnings per share. On average, sell-side analysts anticipate that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Monday, October 20th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $2.76 annualized dividend and a yield of 2.1%. Owens Corning's dividend payout ratio (DPR) is 71.69%.

Owens Corning Company Profile

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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