Regents Gate Capital LLP Sells 30,745 Shares of Owens Corning Inc $OC

by · The Markets Daily

Regents Gate Capital LLP decreased its holdings in Owens Corning Inc (NYSE:OC – Free Report) by 45.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,225 shares of the construction company’s stock after selling 30,745 shares during the period. Owens Corning accounts for about 1.8% of Regents Gate Capital LLP’s portfolio, making the stock its 23rd biggest holding. Regents Gate Capital LLP’s holdings in Owens Corning were worth $4,982,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank bought a new position in Owens Corning in the 2nd quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Owens Corning during the second quarter worth $30,000. Chilton Capital Management LLC purchased a new position in Owens Corning during the second quarter valued at $37,000. Assetmark Inc. increased its holdings in Owens Corning by 51.0% in the 2nd quarter. Assetmark Inc. now owns 299 shares of the construction company’s stock valued at $41,000 after acquiring an additional 101 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Owens Corning in the 2nd quarter worth $42,000. Institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on OC shares. UBS Group cut their price objective on Owens Corning from $218.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Barclays increased their price target on Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Owens Corning in a research note on Wednesday, October 8th. Vertical Research assumed coverage on Owens Corning in a report on Monday, October 20th. They set a “hold” rating on the stock. Finally, Evercore ISI cut their target price on shares of Owens Corning from $169.00 to $153.00 and set an “in-line” rating for the company in a report on Tuesday, October 7th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.

View Our Latest Report on OC

Owens Corning Price Performance

Shares of OC stock opened at $127.24 on Friday. The stock has a 50 day moving average price of $140.21 and a 200 day moving average price of $140.75. Owens Corning Inc has a 52-week low of $123.02 and a 52-week high of $214.53. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52. The firm has a market capitalization of $10.64 billion, a P/E ratio of 33.05, a P/E/G ratio of 9.10 and a beta of 1.32.

Owens Corning (NYSE:OC – Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, beating the consensus estimate of $3.80 by $0.41. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the company posted $4.64 EPS. Owens Corning’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Monday, October 20th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning’s payout ratio is currently 71.69%.

Owens Corning Profile

(Free Report)

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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