VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 30,100 Shares of Owens Corning Inc $OC

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in Owens Corning Inc (NYSE:OC) by 7.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 422,985 shares of the construction company’s stock after acquiring an additional 30,100 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Owens Corning were worth $59,835,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of OC. waypoint wealth counsel acquired a new position in shares of Owens Corning during the 3rd quarter worth approximately $240,000. Ethic Inc. grew its position in Owens Corning by 70.9% during the third quarter. Ethic Inc. now owns 8,109 shares of the construction company’s stock worth $1,147,000 after buying an additional 3,365 shares in the last quarter. Paradiem LLC grew its position in Owens Corning by 942.9% during the third quarter. Paradiem LLC now owns 94,067 shares of the construction company’s stock worth $13,307,000 after buying an additional 85,047 shares in the last quarter. Trium Capital LLP increased its stake in Owens Corning by 81.2% during the 3rd quarter. Trium Capital LLP now owns 18,392 shares of the construction company’s stock worth $2,602,000 after acquiring an additional 8,244 shares during the period. Finally, CWM LLC raised its holdings in Owens Corning by 18.2% in the 3rd quarter. CWM LLC now owns 52,352 shares of the construction company’s stock valued at $7,406,000 after acquiring an additional 8,073 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Up 0.1%

OC opened at $113.05 on Wednesday. The company’s 50 day moving average is $113.01 and its 200-day moving average is $132.36. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $192.96. 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 company has a market cap of $9.29 billion, a P/E ratio of -19.76, a PEG ratio of 9.09 and a beta of 1.34.

Owens Corning (NYSE:OC) last released 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 analysts’ expectations of $2.71 billion. During the same period in the prior year, the company earned $4.38 EPS. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Monday, January 5th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, January 5th. This is a positive change from Owens Corning’s previous quarterly dividend of $0.69. Owens Corning’s dividend payout ratio is currently -48.25%.

Wall Street Analysts Forecast Growth

OC has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their target price on Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Truist Financial reduced 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. Barclays set a $130.00 target price on shares of Owens Corning in a report on Monday, December 8th. Wells Fargo & Company cut their price target on shares of Owens Corning from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Monday, December 15th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research note on Monday. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $155.58.

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.