KBC Group NV Sells 29,130 Shares of Owens Corning Inc $OC

Key Points

• KBC Group NV reduced its stake in Owens Corning by 11% in Q4, selling 29,130 shares and now holds 235,157 shares (about 0.29% of the company) valued at roughly $26.32 million.
• Owens Corning missed Q4 estimates, reporting $1.10 EPS vs. $1.36 expected and $2.14B revenue vs. $2.17B, with revenue down 16.8% year‑over‑year and a negative net margin of 5.17%; despite the miss the stock was up ~4.1% and analysts rate it a "Moderate Buy" with a $146.64 consensus target.
• The company paid a quarterly dividend of $0.79 (annualized $3.16), implying a yield of about 2.6%.

KBC Group NV decreased its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,157 shares of the construction company's stock after selling 29,130 shares during the quarter. KBC Group NV owned about 0.29% of Owens Corning worth $26,316,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Root Financial Partners LLC bought a new stake in shares of Owens Corning during the third quarter valued at approximately $39,000. Measured Wealth Private Client Group LLC bought a new stake in Owens Corning during the third quarter worth $42,000. SJS Investment Consulting Inc. grew its holdings in Owens Corning by 3,766.7% during the third quarter. SJS Investment Consulting Inc. now owns 348 shares of the construction company's stock worth $49,000 after buying an additional 339 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Owens Corning during the fourth quarter worth $49,000. Finally, Clayton Financial Group LLC bought a new stake in Owens Corning during the third quarter worth $51,000. Institutional investors own 88.40% of the company's stock.

Owens Corning Stock Up 4.1%

Shares of NYSE OC opened at $122.65 on Friday. Owens Corning Inc has a one year low of $97.53 and a one year high of $159.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.70. The business's fifty day moving average price is $116.28 and its 200-day moving average price is $117.97. The stock has a market capitalization of $9.86 billion, a PE ratio of -19.16, a P/E/G ratio of 2.02 and a beta of 1.35.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The construction company reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.36 by ($0.26). Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.17 billion. During the same period in the prior year, the company earned $3.22 EPS. The firm's quarterly revenue was down 16.8% on a year-over-year basis. On average, equities research analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Monday, March 9th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, March 9th. Owens Corning's dividend payout ratio is currently -49.38%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upped their price target on Owens Corning from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Thursday. Weiss Ratings reiterated a "sell (d+)" rating on shares of Owens Corning in a report on Friday, March 27th. UBS Group upped their price target on Owens Corning from $160.00 to $172.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Citigroup decreased their price target on Owens Corning from $137.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, January 8th. Finally, Barclays decreased their price target on Owens Corning from $138.00 to $135.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $146.64.

Owens Corning Company Profile

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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