LSV Asset Management Has $205.06 Million Stake in Owens Corning Inc $OC

LSV Asset Management grew its position in Owens Corning Inc (NYSE:OC) by 0.3% in the third quarter, HoldingsChannel.com reports. The fund owned 1,449,562 shares of the construction company’s stock after buying an additional 4,370 shares during the quarter. LSV Asset Management’s holdings in Owens Corning were worth $205,055,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Ossiam increased its holdings in Owens Corning by 5.9% during the 2nd quarter. Ossiam now owns 1,254 shares of the construction company’s stock valued at $172,000 after purchasing an additional 70 shares in the last quarter. Pitcairn Co. grew its holdings in shares of Owens Corning by 4.6% during the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock worth $250,000 after purchasing an additional 80 shares during the last quarter. Archer Investment Corp increased its stake in shares of Owens Corning by 13.3% in the third quarter. Archer Investment Corp now owns 748 shares of the construction company’s stock valued at $106,000 after buying an additional 88 shares in the last quarter. Brown Advisory Inc. increased its stake 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 valued at $1,629,000 after buying an additional 96 shares in the last quarter. Finally, State of Michigan Retirement System raised its holdings 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 valued at $3,381,000 after buying an additional 100 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Trading Up 0.4%

OC opened at $138.52 on Thursday. The firm has a 50 day simple moving average of $119.72 and a 200 day simple moving average of $128.63. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $179.82. The company has a market cap of $11.38 billion, a price-to-earnings ratio of -24.22, a price-to-earnings-growth ratio of 2.89 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 0.86.

Owens Corning Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on OC. Barclays increased their price objective on shares of Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Zacks Research raised shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Wells Fargo & Company raised their price target on shares of Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday. Argus raised Owens Corning to a “strong-buy” rating in a report on Wednesday, January 14th. Finally, UBS Group decreased their price objective on Owens Corning from $179.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. One investment 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 stock. According to MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $150.58.

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.