Rathbones Group PLC Increases Holdings in Owens Corning Inc $OC

Rathbones Group PLC lifted its position in shares of Owens Corning Inc (NYSE:OC) by 8.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,818 shares of the construction company’s stock after acquiring an additional 4,965 shares during the quarter. Rathbones Group PLC’s holdings in Owens Corning were worth $6,806,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Evexia Wealth LLC boosted its stake in shares of Owens Corning by 91.7% during the 4th quarter. Evexia Wealth LLC now owns 4,729 shares of the construction company’s stock worth $583,000 after acquiring an additional 2,262 shares in the last quarter. Dorato Capital Management acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $259,000. PICTET BANK & TRUST Ltd raised its position in shares of Owens Corning by 13.2% during the 4th quarter. PICTET BANK & TRUST Ltd now owns 12,550 shares of the construction company’s stock worth $1,404,000 after purchasing an additional 1,460 shares during the last quarter. Banque Pictet & Cie SA raised its position in shares of Owens Corning by 5.0% during the 4th quarter. Banque Pictet & Cie SA now owns 412,579 shares of the construction company’s stock worth $46,172,000 after purchasing an additional 19,553 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Owens Corning by 1.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 8,874 shares of the construction company’s stock worth $993,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Up 0.4%

Shares of OC opened at $106.25 on Tuesday. The stock has a fifty day moving average of $118.03 and a two-hundred day moving average of $119.34. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.70 and a current ratio of 1.26. The company has a market capitalization of $8.54 billion, a PE ratio of -16.60, a price-to-earnings-growth ratio of 1.71 and a beta of 1.35. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $159.42.

Owens Corning (NYSE:OC) 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). The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The company’s revenue was down 16.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.22 earnings per share. As a group, analysts forecast that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Monday, March 9th will be issued a $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 annualized dividend and a yield of 3.0%. Owens Corning’s payout ratio is -49.38%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on OC shares. Royal Bank Of Canada set a $143.00 price objective on Owens Corning in a research report on Friday, January 9th. Citigroup cut their price objective on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. UBS Group lifted their price objective on Owens Corning from $160.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Argus upgraded Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Finally, Barclays lifted their price objective on Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.73.

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.