Owens Corning Inc $OC Holdings Decreased by Thrivent Financial for Lutherans

by · The Markets Daily

Thrivent Financial for Lutherans trimmed its holdings in shares of Owens Corning Inc (NYSE:OC – Free Report) by 51.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,374 shares of the construction company’s stock after selling 20,418 shares during the period. Thrivent Financial for Lutherans’ holdings in Owens Corning were worth $2,741,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. National Pension Service grew its position in shares of Owens Corning by 25.5% during the third quarter. National Pension Service now owns 95,495 shares of the construction company’s stock worth $13,509,000 after acquiring an additional 19,375 shares during the last quarter. Archer Investment Corp lifted its holdings in shares of Owens Corning by 13.3% in the third quarter. Archer Investment Corp now owns 748 shares of the construction company’s stock valued at $106,000 after buying an additional 88 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Owens Corning by 4.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,589 shares of the construction company’s stock valued at $366,000 after purchasing an additional 121 shares in the last quarter. Ballentine Partners LLC boosted its holdings in Owens Corning by 46.0% during the third quarter. Ballentine Partners LLC now owns 4,319 shares of the construction company’s stock worth $611,000 after buying an additional 1,360 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Owens Corning by 46.0% during the 3rd quarter. Federated Hermes Inc. now owns 137,432 shares of the construction company’s stock worth $19,441,000 after acquiring an additional 43,320 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Up 0.1%

Shares of NYSE OC opened at $135.90 on Tuesday. The stock has a market cap of $11.17 billion, a PE ratio of -23.76, a PEG ratio of 2.84 and a beta of 1.36. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $183.49. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.86 and a current ratio of 1.40. The business has a fifty day moving average of $118.72 and a two-hundred day moving average of $128.62.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Monday, March 9th will be given a $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 annualized dividend and a yield of 2.3%. Owens Corning’s payout ratio is presently -55.24%.

Wall Street Analyst Weigh In

OC has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a report on Monday, December 29th. Citigroup cut their price objective on Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Evercore reduced their target price on shares of 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. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Vertical Research initiated coverage on shares of Owens Corning in a research note on Monday, October 20th. They issued a “hold” rating for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.75.

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Owens Corning Profile

(Free Report)

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.

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