23,552 Shares in Owens Corning (OC) Purchased by Beaconlight Capital LLC

Beaconlight Capital LLC purchased a new stake in Owens Corning (NYSE:OC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 23,552 shares of the construction company’s stock, valued at approximately $1,036,000. Owens Corning comprises approximately 0.4% of Beaconlight Capital LLC’s holdings, making the stock its 22nd largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Owens Corning by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,479,115 shares of the construction company’s stock valued at $514,432,000 after purchasing an additional 58,689 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Owens Corning by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 9,479,115 shares of the construction company’s stock valued at $514,432,000 after purchasing an additional 58,689 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Owens Corning by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,164,180 shares of the construction company’s stock valued at $139,161,000 after purchasing an additional 92,537 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Owens Corning by 13.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,121,717 shares of the construction company’s stock valued at $137,293,000 after purchasing an additional 362,922 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Owens Corning by 5,667.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,135,185 shares of the construction company’s stock valued at $49,000 after purchasing an additional 2,098,162 shares in the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.

OC has been the topic of several research analyst reports. TheStreet upgraded Owens Corning from a “c+” rating to a “b-” rating in a research report on Thursday, February 14th. Zacks Investment Research upgraded Owens Corning from a “sell” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Monday, December 31st. Northcoast Research upped their target price on Owens Corning to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 27th. Barclays set a $58.00 target price on Owens Corning and gave the company a “buy” rating in a research report on Tuesday, February 5th. Finally, Citigroup set a $53.00 target price on Owens Corning and gave the company a “hold” rating in a research report on Tuesday, February 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $69.12.

In related news, VP Daniel T. Smith sold 18,681 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $50.75, for a total transaction of $948,060.75. Following the transaction, the vice president now directly owns 74,891 shares of the company’s stock, valued at approximately $3,800,718.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.

OC stock opened at $47.00 on Friday. Owens Corning has a fifty-two week low of $40.64 and a fifty-two week high of $83.99. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.74 and a current ratio of 1.58. The company has a market cap of $5.15 billion, a P/E ratio of 9.51, a PEG ratio of 0.95 and a beta of 1.20.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, February 20th. The construction company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.09. Owens Corning had a return on equity of 12.92% and a net margin of 7.72%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the business earned $1.11 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts forecast that Owens Corning will post 5.01 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 2nd. Investors of record on Friday, March 8th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, March 7th. Owens Corning’s dividend payout ratio (DPR) is currently 17.81%.

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About Owens Corning

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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