Owens Corning Inc $OC Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd grew its holdings in Owens Corning Inc (NYSE:OC) by 241.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,084 shares of the construction company’s stock after purchasing an additional 26,919 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Owens Corning were worth $5,237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of OC. Bangor Savings Bank acquired a new position in Owens Corning during the 2nd quarter worth about $28,000. Chilton Capital Management LLC purchased a new position in shares of Owens Corning in the 2nd quarter valued at about $37,000. Ameritas Advisory Services LLC acquired a new stake in shares of Owens Corning in the 2nd quarter valued at about $42,000. Wayfinding Financial LLC acquired a new stake in shares of Owens Corning in the 1st quarter valued at about $60,000. Finally, IFP Advisors Inc boosted its position in shares of Owens Corning by 76.0% in the 2nd quarter. IFP Advisors Inc now owns 461 shares of the construction company’s stock valued at $63,000 after purchasing an additional 199 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $127.42 on Tuesday. The business’s fifty day moving average price is $142.24 and its 200 day moving average price is $141.09. The stock has a market capitalization of $10.66 billion, a P/E ratio of 33.10, a PEG ratio of 9.33 and a beta of 1.32. Owens Corning Inc has a twelve month low of $123.23 and a twelve month high of $214.53. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.41. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.64 earnings per share. As a group, research analysts anticipate that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OC shares. UBS Group decreased 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. Vertical Research began coverage on Owens Corning in a research note on Monday, October 20th. They issued a “hold” rating for the company. Zacks Research downgraded Owens Corning from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Wells Fargo & Company raised their price target on Owens Corning from $170.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Owens Corning in a report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus price target of $178.31.

Owens Corning Company 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.