Lodge Hill Capital LLC Boosts Stake in Owens Corning Inc $OC

Lodge Hill Capital LLC raised its position in Owens Corning Inc (NYSE:OC) by 58.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 378,570 shares of the construction company’s stock after purchasing an additional 140,000 shares during the period. Owens Corning accounts for 9.6% of Lodge Hill Capital LLC’s investment portfolio, making the stock its biggest position. Lodge Hill Capital LLC owned about 0.45% of Owens Corning worth $53,553,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in OC. Ossiam boosted its stake in Owens Corning by 5.9% during the second quarter. Ossiam now owns 1,254 shares of the construction company’s stock valued at $172,000 after buying an additional 70 shares during the period. Pitcairn Co. boosted its position in shares of Owens Corning by 4.6% during the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock valued at $250,000 after acquiring an additional 80 shares during the last quarter. Archer Investment Corp boosted its position in shares of Owens Corning by 13.3% during the 3rd quarter. Archer Investment Corp now owns 748 shares of the construction company’s stock valued at $106,000 after acquiring an additional 88 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Owens Corning by 0.8% in the second quarter. Brown Advisory Inc. now owns 11,847 shares of the construction company’s stock worth $1,629,000 after purchasing an additional 96 shares during the last quarter. Finally, State of Michigan Retirement System increased its position in shares of Owens Corning by 0.4% in the second quarter. State of Michigan Retirement System now owns 24,588 shares of the construction company’s stock worth $3,381,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on OC shares. Citigroup cut their price target on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Vertical Research began coverage on shares of Owens Corning in a research report on Monday, October 20th. They issued a “hold” rating for the company. JPMorgan Chase & Co. lowered their price target on Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.58.

Owens Corning Stock Performance

Shares of OC opened at $135.09 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.05. The firm has a market cap of $11.10 billion, a PE ratio of -23.62, a price-to-earnings-growth ratio of 2.90 and a beta of 1.36. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $179.82. The company’s 50 day simple moving average is $120.18 and its 200-day simple moving average is $128.67.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $3.16 annualized dividend and a dividend yield of 2.3%. Owens Corning’s dividend payout ratio (DPR) is currently -55.24%.

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.