Reliance Trust Co. of Delaware acquired a new stake in shares of Owens Corning (NYSE:OC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,697 shares of the construction company’s stock, valued at approximately $207,000.
A number of other large investors have also recently modified their holdings of OC. SG Americas Securities LLC raised its holdings in Owens Corning by 17.0% during the 4th quarter. SG Americas Securities LLC now owns 111,239 shares of the construction company’s stock valued at $4,892,000 after buying an additional 16,136 shares during the last quarter. OLD National Bancorp IN raised its holdings in Owens Corning by 18.8% during the 4th quarter. OLD National Bancorp IN now owns 5,871 shares of the construction company’s stock valued at $258,000 after buying an additional 927 shares during the last quarter. Rhumbline Advisers raised its holdings in Owens Corning by 1.7% during the 4th quarter. Rhumbline Advisers now owns 109,657 shares of the construction company’s stock valued at $4,823,000 after buying an additional 1,816 shares during the last quarter. Trust Co. of Vermont bought a new stake in Owens Corning during the 4th quarter valued at $40,000. Finally, Paragon Capital Management Ltd bought a new stake in Owens Corning during the 4th quarter valued at $268,000. 92.66% of the stock is owned by institutional investors.
OC has been the subject of several research reports. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $62.00 to $58.00 in a report on Thursday, October 25th. Credit Suisse Group decreased their price objective on shares of Owens Corning from $57.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, October 25th. Bank of America lowered shares of Owens Corning from a “neutral” rating to an “underperform” rating in a report on Tuesday, October 23rd. TheStreet lowered shares of Owens Corning from a “b-” rating to a “c+” rating in a report on Tuesday, October 30th. Finally, SunTrust Banks decreased their price objective on shares of Owens Corning to $45.00 and set a “positive” rating for the company in a report on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $71.29.
NYSE:OC opened at $52.00 on Friday. The stock has a market capitalization of $5.68 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.80 and a beta of 1.32. The company has a current ratio of 1.62, a quick ratio of 0.87 and a debt-to-equity ratio of 0.87. Owens Corning has a 1-year low of $40.64 and a 1-year high of $88.57.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Friday, March 8th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, March 7th. Owens Corning’s dividend payout ratio is presently 20.00%.
Owens Corning Profile
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential and commercial 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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