Raiffeisen Bank International AG Boosts Stock Position in Owens Corning Inc $OC

Raiffeisen Bank International AG increased its stake in shares of Owens Corning Inc (NYSE:OC) by 5.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 314,417 shares of the construction company’s stock after buying an additional 14,943 shares during the quarter. Raiffeisen Bank International AG’s holdings in Owens Corning were worth $44,352,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OC. Ariel Investments LLC raised its stake in shares of Owens Corning by 24.8% in the 2nd quarter. Ariel Investments LLC now owns 140,449 shares of the construction company’s stock valued at $19,315,000 after acquiring an additional 27,871 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in Owens Corning by 231.4% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock valued at $6,909,000 after purchasing an additional 34,106 shares during the last quarter. JPMorgan Chase & Co. raised its position in Owens Corning by 6.7% in the second quarter. JPMorgan Chase & Co. now owns 456,952 shares of the construction company’s stock valued at $62,840,000 after purchasing an additional 28,814 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in Owens Corning by 6.1% during the second quarter. Nomura Asset Management Co. Ltd. now owns 42,020 shares of the construction company’s stock worth $5,779,000 after purchasing an additional 2,421 shares in the last quarter. Finally, Caprock Group LLC acquired a new position in Owens Corning during the third quarter worth $1,742,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Up 0.8%

OC stock opened at $132.74 on Friday. The company’s 50 day moving average price is $122.50 and its 200 day moving average price is $128.39. The firm has a market capitalization of $10.91 billion, a price-to-earnings ratio of -23.21, a PEG ratio of 2.76 and a beta of 1.36. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $173.63. 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 Announces Dividend

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 given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, March 9th. Owens Corning’s payout ratio is -55.24%.

Wall Street Analysts Forecast Growth

OC has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on Owens Corning from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Barclays lifted their target price on Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. UBS Group reduced their price target on shares of Owens Corning from $179.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a report on Monday, December 29th. Finally, Royal Bank Of Canada set a $143.00 target price on shares of Owens Corning in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.58.

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.