AMG National Trust Bank Invests $1.04 Million in Owens Corning Inc $OC

AMG National Trust Bank purchased a new stake in Owens Corning Inc (NYSE:OC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 9,620 shares of the construction company's stock, valued at approximately $1,041,000.

Other large investors also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in Owens Corning during the fourth quarter worth about $29,000. Harbour Investments Inc. boosted its holdings in Owens Corning by 66.5% in the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company's stock valued at $36,000 after purchasing an additional 129 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Owens Corning in the 4th quarter valued at about $37,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Owens Corning during the 3rd quarter worth approximately $42,000. Finally, Global Retirement Partners LLC grew its position in shares of Owens Corning by 1,173.3% during the 4th quarter. Global Retirement Partners LLC now owns 382 shares of the construction company's stock worth $43,000 after purchasing an additional 352 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Owens Corning from $136.00 to $165.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. Evercore upgraded Owens Corning from an "in-line" rating to an "outperform" rating and set a $188.00 price target on the stock in a research report on Tuesday, June 30th. Weiss Ratings raised Owens Corning from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, June 24th. The Goldman Sachs Group upped their price objective on shares of Owens Corning from $141.00 to $159.00 and gave the stock a "neutral" rating in a research report on Friday, July 10th. Finally, Zacks Research upgraded shares of Owens Corning from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.50.

Insider Activity at Owens Corning

In other Owens Corning news, VP Mari Doerfler sold 1,926 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the completion of the sale, the vice president directly owned 3,093 shares in the company, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the transaction, the insider directly owned 15,848 shares of the company's stock, valued at approximately $1,913,012.08. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company's stock.

Owens Corning Stock Up 0.6%

Shares of NYSE:OC opened at $143.75 on Thursday. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.91. The company has a market capitalization of $11.58 billion, a PE ratio of -21.75, a price-to-earnings-growth ratio of 2.77 and a beta of 1.30. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. The company has a fifty day moving average of $128.19 and a 200-day moving average of $122.06.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.21. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the company posted $2.97 EPS. Owens Corning's quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities analysts predict that Owens Corning Inc will post 9.55 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, July 20th. Owens Corning's payout ratio is currently -47.81%.

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.

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