Citizens Financial Group Inc. RI Invests $538,000 in Owens Corning Inc $OC

Citizens Financial Group Inc. RI acquired a new stake in Owens Corning Inc (NYSE:OC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,387 shares of the construction company’s stock, valued at approximately $538,000.

A number of other large investors have also made changes to their positions in the stock. BNP Paribas Financial Markets grew its holdings in shares of Owens Corning by 178.2% during the fourth quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company’s stock worth $20,888,000 after buying an additional 119,566 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Owens Corning in the first quarter valued at approximately $2,576,000. Raiffeisen Bank International AG lifted its stake in shares of Owens Corning by 12.4% during the fourth quarter. Raiffeisen Bank International AG now owns 353,302 shares of the construction company’s stock valued at $39,976,000 after buying an additional 38,885 shares during the period. Systematic Financial Management LP boosted its position in Owens Corning by 10.8% during the fourth quarter. Systematic Financial Management LP now owns 244,437 shares of the construction company’s stock worth $27,355,000 after acquiring an additional 23,873 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Owens Corning by 460.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company’s stock worth $146,940,000 after acquiring an additional 1,078,877 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on OC shares. Citigroup boosted their price target on Owens Corning from $149.00 to $177.00 and gave the company a “buy” rating in a report on Friday, August 7th. Royal Bank Of Canada raised their price objective on Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. The Goldman Sachs Group lifted their price objective on Owens Corning from $141.00 to $159.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Weiss Ratings upgraded Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. Finally, Wells Fargo & Company increased their target price on Owens Corning from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

Owens Corning Stock Performance

Shares of OC stock opened at $151.51 on Thursday. Owens Corning Inc has a one year low of $97.53 and a one year high of $159.91. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 1.16. The company has a 50 day moving average price of $142.22 and a 200 day moving average price of $126.95. The firm has a market capitalization of $11.98 billion, a price-to-earnings ratio of -18.80, a price-to-earnings-growth ratio of 2.27 and a beta of 1.32.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.84. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business earned $4.21 EPS. Owens Corning’s revenue for the quarter was up .3% on a year-over-year basis. Sell-side analysts anticipate that Owens Corning Inc will post 9.9 EPS for the current year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 20th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.1%. Owens Corning’s dividend payout ratio (DPR) is presently -39.21%.

Insider Buying and Selling at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the sale, the insider owned 15,848 shares in the company, valued at approximately $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.92% of the company’s stock.

Owens Corning 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.