Russell Investments Group Ltd. Has $26.53 Million Stake in Owens Corning Inc $OC

by · The Markets Daily

Russell Investments Group Ltd. lowered its holdings in Owens Corning Inc (NYSE:OC – Free Report) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,535 shares of the construction company’s stock after selling 17,095 shares during the period. Russell Investments Group Ltd.’s holdings in Owens Corning were worth $26,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Schroder Investment Management Group boosted its stake in shares of Owens Corning by 9.4% during the 3rd quarter. Schroder Investment Management Group now owns 550,775 shares of the construction company’s stock worth $77,692,000 after buying an additional 47,524 shares during the last quarter. Inceptionr LLC raised its holdings in Owens Corning by 13.4% during the third quarter. Inceptionr LLC now owns 9,808 shares of the construction company’s stock worth $1,387,000 after acquiring an additional 1,160 shares in the last quarter. Private Advisor Group LLC acquired a new position in Owens Corning during the third quarter valued at approximately $243,000. Jefferies Financial Group Inc. acquired a new position in Owens Corning during the third quarter valued at approximately $2,128,000. Finally, B. Metzler seel. Sohn & Co. AG grew its stake in Owens Corning by 42.2% in the third quarter. B. Metzler seel. Sohn & Co. AG now owns 16,144 shares of the construction company’s stock valued at $2,284,000 after purchasing an additional 4,793 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OC shares. Barclays upped their price objective on Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Wells Fargo & Company raised their target price on shares of Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Citigroup dropped their price target on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Royal Bank Of Canada set a $143.00 price target on shares of Owens Corning in a research note on Friday, January 9th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.58.

Check Out Our Latest Report on OC

Owens Corning Price Performance

NYSE:OC opened at $102.89 on Friday. The company has a market cap of $8.27 billion, a P/E ratio of -16.08, a P/E/G ratio of 1.74 and a beta of 1.35. The firm’s fifty day moving average price is $123.03 and its two-hundred day moving average price is $125.15. Owens Corning Inc has a one year low of $97.53 and a one year high of $159.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.70.

Owens Corning (NYSE:OC – Get Free Report) last posted its earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The business’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.22 EPS. Equities analysts expect that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, March 9th. Owens Corning’s payout ratio is currently -49.38%.

Owens Corning Company Profile

(Free Report)

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.

See Also

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