Victory Capital Management Inc. Has $90.48 Million Stock Holdings in Owens Corning Inc $OC

Key Points

• Victory Capital Management boosted its stake in Owens Corning by 38.1% in Q3 to 639,617 shares (about 0.78% ownership) valued at $90.48 million.
• Owens Corning missed recent quarterly estimates, reporting $1.10 EPS versus a $1.36 consensus and $2.14B in revenue vs. $2.17B expected, with revenue down 16.8% year‑over‑year and a negative net margin of 5.17%.
• The company declared a quarterly dividend of $0.79 (annualized $3.16, yield 2.7%), and Wall Street consensus is a "Moderate Buy" with an average price target of $151.58.

Victory Capital Management Inc. lifted its position in Owens Corning Inc (NYSE:OC - Free Report) by 38.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 639,617 shares of the construction company's stock after buying an additional 176,302 shares during the quarter. Victory Capital Management Inc. owned about 0.78% of Owens Corning worth $90,480,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC acquired a new position in Owens Corning during the second quarter worth $26,000. Rexford Capital Inc. acquired a new position in shares of Owens Corning during the 2nd quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Owens Corning in the 2nd quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC raised its position in shares of Owens Corning by 149.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company's stock valued at $31,000 after purchasing an additional 133 shares during the period. Finally, Root Financial Partners LLC bought a new stake in shares of Owens Corning during the 3rd quarter worth $39,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Performance

OC opened at $116.84 on Thursday. The firm has a market cap of $9.39 billion, a P/E ratio of -18.26, a PEG ratio of 1.80 and a beta of 1.35. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.42. The company has a 50 day simple moving average of $123.66 and a two-hundred day simple moving average of $126.79. 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 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). The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The company's quarterly revenue was down 16.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.22 EPS. Equities analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a yield of 2.7%. Owens Corning's payout ratio is currently -49.38%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays boosted their price objective on Owens Corning from $130.00 to $138.00 and gave the company an "overweight" rating in a research report on Thursday, January 15th. JPMorgan Chase & Co. dropped their price objective on Owens Corning from $157.00 to $113.00 and set a "neutral" rating for the company in a research note on Tuesday, November 11th. Citigroup dropped their target price on shares of Owens Corning from $137.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, January 8th. Royal Bank Of Canada set a $143.00 target price on shares of Owens Corning in a research note on Friday, January 9th. Finally, Wells Fargo & Company boosted their price objective on Owens Corning from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $151.58.

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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