Candriam S.C.A. raised its holdings in shares of Owens Corning Inc (NYSE:OC - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,662 shares of the construction company's stock after acquiring an additional 9,417 shares during the quarter. Candriam S.C.A. owned approximately 0.09% of Owens Corning worth $8,188,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in OC. Pitcairn Co. lifted its position in shares of Owens Corning by 4.6% in the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company's stock worth $250,000 after purchasing an additional 80 shares in the last quarter. First Pacific Financial grew its position in Owens Corning by 2.3% during the first quarter. First Pacific Financial now owns 3,749 shares of the construction company's stock valued at $406,000 after purchasing an additional 85 shares in the last quarter. Viawealth LLC grew its position in Owens Corning by 3.6% during the fourth quarter. Viawealth LLC now owns 2,563 shares of the construction company's stock valued at $287,000 after purchasing an additional 88 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in Owens Corning by 2.9% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company's stock valued at $343,000 after buying an additional 90 shares during the period. Finally, Pallas Capital Advisors LLC increased its stake in Owens Corning by 2.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 3,997 shares of the construction company's stock valued at $447,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 88.40% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on OC. Royal Bank Of Canada lifted their target price on shares of Owens Corning from $148.00 to $172.00 and gave the company an "outperform" rating in a research note on Friday. Weiss Ratings raised shares of Owens Corning from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, June 24th. Barclays increased their price objective on Owens Corning from $135.00 to $144.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Bank of America reduced their price objective on Owens Corning from $140.00 to $138.00 and set a "buy" rating for the company in a research report on Monday, April 20th. Finally, Evercore upgraded Owens Corning from an "in-line" rating to an "outperform" rating and set a $188.00 target price on the stock in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $154.08.
Check Out Our Latest Research Report on Owens Corning
Owens Corning Price Performance
Shares of OC opened at $143.27 on Monday. 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 firm has a market cap of $11.54 billion, a PE ratio of -21.67, a PEG ratio of 2.60 and a beta of 1.30. The firm's 50 day moving average price is $127.01 and its 200 day moving average price is $121.44. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.91.
Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the firm posted $2.97 earnings per share. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, research analysts expect that Owens Corning Inc will post 9.53 EPS for the current fiscal year.
Owens Corning Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be issued a $0.79 dividend. The ex-dividend date is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a yield of 2.2%. Owens Corning's dividend payout ratio is currently -47.81%.
Insider Buying and Selling at Owens Corning
In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the firm's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the transaction, the insider directly owned 15,848 shares in the company, valued at $1,913,012.08. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the transaction, the vice president owned 3,093 shares in the company, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.92% of the company's stock.
About Owens Corning
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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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