Voya Investment Management LLC Grows Stock Holdings in Owens Corning Inc $OC

Key Points

• Voya Investment Management LLC increased its stake in Owens Corning Inc by 21.4%, purchasing an additional 14,606 shares, bringing its total holdings to 82,894 shares valued at approximately $11.84 million.
• Owens Corning recently reported strong quarterly earnings with an EPS of $4.21, surpassing analysts' expectations of $3.80, and a year-over-year revenue increase of 10%.
• Research analysts have varied ratings on the stock, with a consensus rating of "Moderate Buy" and a consensus price target of $185.10, indicating potential for further growth.

Voya Investment Management LLC grew its position in Owens Corning Inc (NYSE:OC - Free Report) by 21.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 82,894 shares of the construction company's stock after acquiring an additional 14,606 shares during the period. Voya Investment Management LLC owned 0.10% of Owens Corning worth $11,839,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of Owens Corning in the 1st quarter valued at $60,000. Geneos Wealth Management Inc. raised its position in Owens Corning by 61.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company's stock worth $69,000 after purchasing an additional 184 shares during the last quarter. Archer Investment Corp raised its position in Owens Corning by 17.9% during the 1st 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. Quarry LP raised its position in Owens Corning by 36.0% during the 1st quarter. Quarry LP now owns 676 shares of the construction company's stock worth $97,000 after purchasing an additional 179 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new position in Owens Corning during the 1st quarter worth $100,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Down 1.4%

NYSE OC traded down $2.14 during trading hours on Friday, hitting $145.45. The company's stock had a trading volume of 1,885,632 shares, compared to its average volume of 972,789. Owens Corning Inc has a 52 week low of $123.40 and a 52 week high of $214.53. The company has a market capitalization of $12.16 billion, a PE ratio of 37.78, a price-to-earnings-growth ratio of 10.45 and a beta of 1.32. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98. The company's 50-day simple moving average is $147.56 and its two-hundred day simple moving average is $142.60.

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

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $2.76 annualized dividend and a dividend yield of 1.9%. Owens Corning's dividend payout ratio (DPR) is currently 71.69%.

Analyst Ratings Changes

Several research analysts recently issued reports on OC shares. Barclays raised their target price on Owens Corning from $167.00 to $173.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. UBS Group lowered their target price on Owens Corning from $218.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Evercore ISI increased their price target on Owens Corning from $165.00 to $169.00 and gave the stock an "in-line" rating in a report on Friday, August 8th. Royal Bank Of Canada decreased their price target on Owens Corning from $184.00 to $180.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Finally, Wells Fargo & Company increased their price target on Owens Corning from $170.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $185.10.

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.