Barrow Hanley Mewhinney & Strauss LLC Lowers Stake in Owens Corning (OC)
Barrow Hanley Mewhinney & Strauss LLC lessened its holdings in Owens Corning (NYSE:OC) by 22.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,584,260 shares of the construction company’s stock after selling 1,591,588 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 5.02% of Owens Corning worth $431,943,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in OC. Grove Bank & Trust lifted its position in shares of Owens Corning by 213.5% in the 3rd quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock worth $126,000 after purchasing an additional 1,110 shares during the period. Penserra Capital Management LLC lifted its position in shares of Owens Corning by 11.1% in the 2nd quarter. Penserra Capital Management LLC now owns 2,964 shares of the construction company’s stock worth $198,000 after purchasing an additional 296 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of Owens Corning in the 3rd quarter worth approximately $202,000. Worth Venture Partners LLC purchased a new stake in shares of Owens Corning in the 3rd quarter worth approximately $213,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Owens Corning by 214.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,764 shares of the construction company’s stock worth $214,000 after purchasing an additional 1,885 shares during the period. 94.55% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Argus assumed coverage on shares of Owens Corning in a research report on Wednesday, December 6th. They issued a “buy” rating and a $109.00 price target for the company. Royal Bank of Canada raised shares of Owens Corning from an “outperform” rating to a “top pick” rating in a research report on Monday, December 4th. SunTrust Banks upped their price target on shares of Owens Corning to $85.00 and gave the stock a “hold” rating in a research report on Tuesday, November 21st. Finally, Bank of America upped their price target on shares of Owens Corning from $84.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, November 17th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $81.10.
Shares of Owens Corning (NYSE:OC) traded down $0.45 during trading on Friday, reaching $85.80. 1,029,200 shares of the company’s stock were exchanged, compared to its average volume of 1,055,873. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 0.99. Owens Corning has a twelve month low of $50.77 and a twelve month high of $91.40. The firm has a market cap of $9,594.54, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 1.30 and a beta of 1.09.
Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.01). Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the company posted $1.09 EPS. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. equities research analysts anticipate that Owens Corning will post 4.33 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.21 per share. This is a positive change from Owens Corning’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.84 dividend on an annualized basis and a yield of 0.98%. Owens Corning’s dividend payout ratio is presently 23.88%.
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Owens Corning Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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