Vinva Investment Management Ltd Purchases Shares of 9,980 Owens Corning Inc $OC

Key Points

• Vinva Investment Management acquired a new stake of 9,980 shares in Owens Corning (NYSE:OC) during Q3 (~$1.41M), and several large institutions (Norges Bank, First Trust, Amundi, JPMorgan) materially increased holdings, leaving institutional ownership near 88.4%.
• Owens Corning reported quarterly EPS $1.10 (miss vs. $1.36) and revenue of $2.14B, down 16.8% year-over-year, producing a negative net margin (-5.17%) and a negative P/E while the stock trades around $107.54 (12‑month range $97.53–$159.42).
• The board declared a quarterly dividend of $0.79 (annualized $3.16, yield ~2.9%, ex-dividend March 9, payable April 9), and analyst sentiment is mixed but averages a "Moderate Buy" with a consensus price target of $151.58.

Vinva Investment Management Ltd acquired a new stake in Owens Corning Inc (NYSE:OC - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,980 shares of the construction company's stock, valued at approximately $1,408,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Owens Corning during the 2nd quarter valued at approximately $163,719,000. First Trust Advisors LP boosted its stake in Owens Corning by 164.6% in the 2nd quarter. First Trust Advisors LP now owns 920,726 shares of the construction company's stock worth $126,618,000 after purchasing an additional 572,770 shares during the period. Clean Energy Transition LLP purchased a new stake in Owens Corning during the 3rd quarter valued at approximately $75,203,000. Amundi grew its holdings in Owens Corning by 92.9% during the 2nd quarter. Amundi now owns 1,086,735 shares of the construction company's stock valued at $157,279,000 after buying an additional 523,376 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Owens Corning by 99.4% during the third quarter. JPMorgan Chase & Co. now owns 911,334 shares of the construction company's stock valued at $128,917,000 after buying an additional 454,382 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Trading Down 2.0%

OC opened at $107.54 on Tuesday. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.42. The company has a current ratio of 1.26, a quick ratio of 0.70 and a debt-to-equity ratio of 1.20. The stock has a 50-day moving average of $123.44 and a 200 day moving average of $125.78. The firm has a market cap of $8.64 billion, a P/E ratio of -16.80, a P/E/G ratio of 1.78 and a beta of 1.35.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, February 25th. The construction company reported $1.10 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same quarter last year, the firm posted $3.22 EPS. Owens Corning's revenue for the quarter was down 16.8% compared to the same quarter last year. As a group, research analysts forecast that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The business 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. This represents a $3.16 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, March 9th. Owens Corning's dividend payout ratio is currently -49.38%.

Analysts Set New Price Targets

Several research firms have recently commented on OC. Argus raised shares of Owens Corning to a "strong-buy" rating in a report on Wednesday, January 14th. Wells Fargo & Company lifted their price target on shares of Owens Corning from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. dropped their price objective on shares of Owens Corning from $157.00 to $113.00 and set a "neutral" rating for the company in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Owens Corning in a report on Monday, December 29th. Finally, Barclays increased their price target on Owens Corning from $130.00 to $138.00 and gave the company an "overweight" rating in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $151.58.

About Owens Corning

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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