JPMorgan Chase & Co. Increases Stock Holdings in Owens Corning Inc $OC

JPMorgan Chase & Co. grew its holdings in shares of Owens Corning Inc (NYSE:OC) by 99.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 911,334 shares of the construction company’s stock after purchasing an additional 454,382 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.11% of Owens Corning worth $128,917,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D grew its position in Owens Corning by 1.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 27,492 shares of the construction company’s stock valued at $3,889,000 after buying an additional 517 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Owens Corning by 5.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,669 shares of the construction company’s stock valued at $1,085,000 after acquiring an additional 368 shares during the period. Aberdeen Group plc increased its stake in shares of Owens Corning by 2.4% in the 3rd quarter. Aberdeen Group plc now owns 32,639 shares of the construction company’s stock worth $4,604,000 after purchasing an additional 779 shares in the last quarter. Lodge Hill Capital LLC raised its holdings in Owens Corning by 58.7% in the 3rd quarter. Lodge Hill Capital LLC now owns 378,570 shares of the construction company’s stock worth $53,553,000 after purchasing an additional 140,000 shares during the period. Finally, LSV Asset Management lifted its position in Owens Corning by 0.3% during the third quarter. LSV Asset Management now owns 1,449,562 shares of the construction company’s stock valued at $205,055,000 after purchasing an additional 4,370 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

OC has been the subject of a number of analyst reports. Royal Bank Of Canada set a $143.00 price target on Owens Corning in a research report on Friday, January 9th. Evercore cut their price objective on Owens Corning from $121.00 to $117.00 and set an “in-line” rating for the company in a research note on Thursday, December 4th. UBS Group decreased their target price 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. Wells Fargo & Company upped their price target on shares of Owens Corning from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $150.58.

Owens Corning Trading Up 0.8%

OC stock opened at $132.74 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 0.86. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $173.63. The business has a 50 day simple moving average of $122.50 and a two-hundred day simple moving average of $128.30. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of -23.21, a PEG ratio of 2.78 and a beta of 1.36.

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

Owens Corning Profile

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.