Jackson Hole Capital Partners LLC Makes New Investment in Owens Corning Inc $OC

Jackson Hole Capital Partners LLC acquired a new position in Owens Corning Inc (NYSE:OC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 17,278 shares of the construction company’s stock, valued at approximately $2,444,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Owens Corning during the second quarter valued at approximately $26,000. Rexford Capital Inc. purchased a new stake in Owens Corning during the 2nd quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Owens Corning in the 2nd quarter worth $30,000. Vermillion & White Wealth Management Group LLC increased its position in shares of Owens Corning by 149.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock valued at $31,000 after acquiring an additional 133 shares during the period. Finally, Chilton Capital Management LLC bought a new position in shares of Owens Corning during the second quarter valued at about $37,000. 88.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America cut their target price on Owens Corning from $180.00 to $168.00 and set a “buy” rating on the stock in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, December 29th. Wells Fargo & Company upped their price objective on shares of Owens Corning from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday. Zacks Research raised shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Vertical Research started coverage on Owens Corning in a research report on Monday, October 20th. They issued a “hold” rating for the company. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.75.

Owens Corning Price Performance

Shares of NYSE:OC opened at $124.69 on Friday. The firm has a market cap of $10.25 billion, a price-to-earnings ratio of -21.80, a P/E/G ratio of 11.77 and a beta of 1.35. The firm has a fifty day moving average price of $111.70 and a 200 day moving average price of $130.97. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.86 and a current ratio of 1.40. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $192.96.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 5th. The construction company reported $3.67 earnings per share 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 firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the previous year, the firm posted $4.38 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Monday, January 5th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from Owens Corning’s previous quarterly dividend of $0.69. This represents a $3.16 dividend on an annualized basis and a yield of 2.5%. Owens Corning’s dividend payout ratio is currently -55.24%.

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.