Manning & Napier Advisors LLC Has $3.05 Million Holdings in Owens Corning Inc $OC

Manning & Napier Advisors LLC increased its stake in Owens Corning Inc (NYSE:OC) by 332.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,562 shares of the construction company’s stock after acquiring an additional 16,574 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Owens Corning were worth $3,050,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC bought a new stake in Owens Corning in the second quarter valued at $26,000. Rexford Capital Inc. acquired a new stake in shares of Owens Corning in the 2nd quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Owens Corning during the 2nd quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC boosted its holdings in Owens Corning by 149.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock worth $31,000 after acquiring an additional 133 shares in the last quarter. Finally, Chilton Capital Management LLC acquired a new stake in Owens Corning in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OC. Wells Fargo & Company increased their target price on Owens Corning from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group lowered their price objective on shares of Owens Corning from $179.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Truist Financial dropped their price objective on shares of Owens Corning from $165.00 to $135.00 and set a “hold” rating on the stock in a research note on Thursday, October 9th. Vertical Research started coverage on shares of Owens Corning in a research report on Monday, October 20th. They set a “hold” rating for the company. Finally, Royal Bank Of Canada set a $143.00 price target on shares of Owens Corning in a research report on Friday, January 9th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $149.08.

Owens Corning Stock Performance

Shares of OC stock opened at $123.52 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 0.86. The firm has a 50-day moving average of $111.31 and a 200-day moving average of $131.02. Owens Corning Inc has a one year low of $97.53 and a one year high of $192.96. The company has a market cap of $10.15 billion, a P/E ratio of -21.59, a P/E/G ratio of 11.64 and a beta of 1.35.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.03. Owens Corning had a negative net margin of 4.46% and a positive return on equity of 24.42%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the firm posted $4.38 EPS. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts forecast that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Monday, January 5th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from Owens Corning’s previous quarterly dividend of $0.69. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. Owens Corning’s dividend payout ratio (DPR) is -55.24%.

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.