DekaBank Deutsche Girozentrale trimmed its position in shares of Owens Corning Inc (NYSE:OC – Free Report) by 0.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 514,195 shares of the construction company’s stock after selling 1,192 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Owens Corning were worth $70,774,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of OC. Bangor Savings Bank acquired a new position in Owens Corning in the 2nd quarter worth about $28,000. Ameritas Advisory Services LLC acquired a new position in Owens Corning in the second quarter worth approximately $42,000. Wayfinding Financial LLC acquired a new position in Owens Corning in the first quarter worth approximately $60,000. IFP Advisors Inc raised its position in Owens Corning by 76.0% during the second quarter. IFP Advisors Inc now owns 461 shares of the construction company’s stock valued at $63,000 after acquiring an additional 199 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Owens Corning by 61.7% in the first quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after acquiring an additional 184 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.
Owens Corning Price Performance
Shares of NYSE:OC opened at $130.70 on Wednesday. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 33.95, a PEG ratio of 9.27 and a beta of 1.32. The business has a 50 day moving average price of $144.18 and a 200 day moving average price of $141.18. The company has a quick ratio of 0.95, a current ratio of 1.52 and a debt-to-equity ratio of 0.98. Owens Corning Inc has a twelve month low of $123.23 and a twelve month high of $214.53.
Owens Corning Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $2.76 dividend on an annualized basis and a yield of 2.1%. Owens Corning’s dividend payout ratio is 71.69%.
Analyst Ratings Changes
Several brokerages have recently commented on OC. Barclays raised their price target on shares of Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Owens Corning in a research report on Wednesday, October 8th. Vertical Research began coverage on Owens Corning in a research report on Monday. They issued a “hold” rating for the company. Evercore ISI lowered their price objective on Owens Corning from $169.00 to $153.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. Finally, Wells Fargo & Company raised their price objective on Owens Corning from $170.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.
Read Our Latest Stock Analysis on Owens Corning
Owens Corning Profile
Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.
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