Owens Corning Inc $OC Shares Purchased by Hodges Capital Management Inc.

Hodges Capital Management Inc. boosted its holdings in Owens Corning Inc (NYSE:OC) by 20.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,968 shares of the construction company’s stock after acquiring an additional 5,062 shares during the quarter. Hodges Capital Management Inc.’s holdings in Owens Corning were worth $4,239,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Ossiam lifted its stake in shares of Owens Corning by 5.9% in the second quarter. Ossiam now owns 1,254 shares of the construction company’s stock valued at $172,000 after purchasing an additional 70 shares during the period. Pitcairn Co. increased its holdings in Owens Corning by 4.6% in the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock valued at $250,000 after buying an additional 80 shares in the last quarter. Archer Investment Corp lifted its position in shares of Owens Corning by 13.3% during the 3rd quarter. Archer Investment Corp now owns 748 shares of the construction company’s stock valued at $106,000 after acquiring an additional 88 shares during the period. Brown Advisory Inc. boosted its stake in shares of Owens Corning by 0.8% during the 2nd quarter. Brown Advisory Inc. now owns 11,847 shares of the construction company’s stock worth $1,629,000 after acquiring an additional 96 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Owens Corning by 0.4% during the 2nd quarter. State of Michigan Retirement System now owns 24,588 shares of the construction company’s stock worth $3,381,000 after acquiring an additional 100 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OC has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a report on Monday, December 29th. JPMorgan Chase & Co. dropped their price target on Owens Corning from $157.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Argus upgraded shares of Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. UBS Group lowered their price objective on shares of Owens Corning from $179.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Finally, Barclays lifted their target price on shares of Owens Corning from $130.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $150.58.

Owens Corning Price Performance

OC stock opened at $133.66 on Wednesday. The company has a market cap of $10.99 billion, a PE ratio of -23.37, a price-to-earnings-growth ratio of 2.81 and a beta of 1.36. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.05. The stock has a 50-day moving average price of $121.49 and a two-hundred day moving average price of $128.36. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $179.18.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, March 9th. Owens Corning’s dividend payout ratio is -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.