Windmill Hill Asset Management Ltd bought a new stake in shares of Owens Corning (NYSE:OC – Get Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,374 shares of the construction company's stock, valued at approximately $217,000. Owens Corning comprises approximately 0.1% of Windmill Hill Asset Management Ltd's portfolio, making the stock its 16th biggest holding.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. First Bank & Trust grew its stake in Owens Corning by 3.6% in the first quarter. First Bank & Trust now owns 3,461 shares of the construction company's stock valued at $316,000 after purchasing an additional 121 shares during the last quarter. Convergence Investment Partners LLC grew its stake in Owens Corning by 7.6% in the first quarter. Convergence Investment Partners LLC now owns 1,860 shares of the construction company's stock valued at $170,000 after purchasing an additional 132 shares during the last quarter. CIBC World Markets Inc. grew its stake in Owens Corning by 1.0% in the fourth quarter. CIBC World Markets Inc. now owns 15,140 shares of the construction company's stock valued at $1,370,000 after purchasing an additional 146 shares during the last quarter. Fifth Third Bancorp grew its stake in Owens Corning by 33.7% in the first quarter. Fifth Third Bancorp now owns 663 shares of the construction company's stock valued at $61,000 after purchasing an additional 167 shares during the last quarter. Finally, Roosevelt Investment Group LLC grew its stake in Owens Corning by 3.8% in the fourth quarter. Roosevelt Investment Group LLC now owns 5,742 shares of the construction company's stock valued at $520,000 after purchasing an additional 210 shares during the last quarter. 92.55% of the stock is currently owned by institutional investors.
Get Owens Corning alerts:Owens Corning Trading Down 1.0 %
Owens Corning stock opened at $82.78 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.68. Owens Corning has a 52 week low of $72.97 and a 52 week high of $101.12. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 1.10 and a beta of 1.44. The stock has a 50-day moving average price of $84.63 and a 200 day moving average price of $88.91.
Owens Corning (NYSE:OC – Get Rating) last released its earnings results on Wednesday, April 27th. The construction company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.42 by $0.42. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.23 billion. Owens Corning had a return on equity of 24.44% and a net margin of 12.20%. The company's revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 earnings per share. Sell-side analysts anticipate that Owens Corning will post 11.64 EPS for the current year.Owens Corning Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 4th. Investors of record on Monday, July 18th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.69%. The ex-dividend date is Friday, July 15th. Owens Corning's dividend payout ratio is currently 13.23%.
Analyst Ratings Changes
Several research firms have issued reports on OC. StockNews.com upgraded Owens Corning from a "buy" rating to a "strong-buy" rating in a research note on Monday. Truist Financial downgraded Owens Corning from a "buy" rating to a "hold" rating and lowered their price target for the stock from $115.00 to $85.00 in a report on Tuesday, April 5th. The Goldman Sachs Group lowered their price target on Owens Corning from $90.00 to $77.00 and set a "sell" rating for the company in a report on Thursday, June 23rd. Wells Fargo & Company lowered their price target on Owens Corning from $95.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, June 28th. Finally, JPMorgan Chase & Co. lowered their price target on Owens Corning from $102.00 to $86.00 in a report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $101.92.
Owens Corning Profile
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Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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