Nisa Investment Advisors LLC Buys 4,880 Shares of Owens Corning Inc $OC

Nisa Investment Advisors LLC raised its holdings in Owens Corning Inc (NYSE:OC) by 126.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,740 shares of the construction company’s stock after acquiring an additional 4,880 shares during the period. Nisa Investment Advisors LLC’s holdings in Owens Corning were worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Owens Corning during the second quarter worth about $163,719,000. First Trust Advisors LP lifted its position in Owens Corning by 164.6% during the second quarter. First Trust Advisors LP now owns 920,726 shares of the construction company’s stock worth $126,618,000 after acquiring an additional 572,770 shares during the last quarter. Amundi boosted its holdings in shares of Owens Corning by 92.9% during the second quarter. Amundi now owns 1,086,735 shares of the construction company’s stock worth $157,279,000 after acquiring an additional 523,376 shares during the period. Marshall Wace LLP grew its position in shares of Owens Corning by 17,614.0% in the second quarter. Marshall Wace LLP now owns 422,832 shares of the construction company’s stock valued at $58,148,000 after purchasing an additional 420,445 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Owens Corning by 70.9% during the second quarter. AQR Capital Management LLC now owns 960,604 shares of the construction company’s stock worth $132,102,000 after purchasing an additional 398,440 shares during the period. 88.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank Of Canada set a $143.00 price objective on Owens Corning in a report on Friday, January 9th. Zacks Research raised shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday. UBS Group cut their price objective on shares of Owens Corning from $179.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, January 6th. Bank of America dropped their price target on shares of Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a research report on Wednesday, October 1st. Finally, Truist Financial lowered their price objective on Owens Corning from $165.00 to $135.00 and set a “hold” rating on the stock in a research note on Thursday, October 9th. Ten investment 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. According to data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and an average target price of $149.08.

Owens Corning Price Performance

OC stock opened at $123.52 on Thursday. The company has a market capitalization of $10.15 billion, a P/E ratio of -21.59, a PEG ratio of 11.64 and a beta of 1.35. The company has a fifty day moving average price of $111.31 and a 200-day moving average price of $131.02. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.86 and a current ratio of 1.40. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $192.96.

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

Owens Corning Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Monday, January 5th will be issued a $0.79 dividend. This is an increase from Owens Corning’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, January 5th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. Owens Corning’s payout ratio is presently -55.24%.

About Owens Corning

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.