Junto Capital Management LP Purchases Shares of 132,034 Owens Corning Inc $OC

Junto Capital Management LP purchased a new stake in Owens Corning Inc (NYSE:OC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 132,034 shares of the construction company’s stock, valued at approximately $18,678,000. Junto Capital Management LP owned 0.16% of Owens Corning at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new stake in Owens Corning in the second quarter valued at approximately $26,000. Rexford Capital Inc. bought a new position in Owens Corning during the 2nd quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Owens Corning in the 2nd quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of Owens Corning by 149.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock worth $31,000 after purchasing an additional 133 shares during the period. Finally, Root Financial Partners LLC bought a new stake in shares of Owens Corning in the 3rd quarter valued at $39,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Price Performance

OC stock opened at $106.48 on Monday. The stock has a market capitalization of $8.56 billion, a PE ratio of -16.64, a price-to-earnings-growth ratio of 1.72 and a beta of 1.35. The company’s 50-day moving average is $122.88 and its 200-day moving average is $124.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.70. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.42.

Owens Corning (NYSE:OC) last issued 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 negative net margin of 5.17% and a positive return on equity of 21.93%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the firm earned $3.22 earnings per share. The business’s quarterly revenue was down 16.8% on a year-over-year basis. Equities research analysts expect that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on OC shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 29th. Barclays upped their price target on shares of Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Wells Fargo & Company increased their price target on Owens Corning from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Citigroup lowered 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. Finally, Evercore dropped their price objective on Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $151.58.

Owens Corning Company 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.