Owens Corning Inc $OC Shares Sold by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR cut its holdings in Owens Corning Inc (NYSE:OC - Free Report) by 32.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 13,984 shares of the construction company's stock after selling 6,665 shares during the period. Generali Asset Management SPA SGR's holdings in Owens Corning were worth $1,923,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Owens Corning by 21.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,720 shares of the construction company's stock worth $1,245,000 after buying an additional 1,558 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Owens Corning during the 1st quarter worth $211,000. QRG Capital Management Inc. increased its holdings in shares of Owens Corning by 1.8% during the 1st quarter. QRG Capital Management Inc. now owns 20,325 shares of the construction company's stock worth $2,903,000 after buying an additional 361 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in shares of Owens Corning by 23.8% during the 1st quarter. CWA Asset Management Group LLC now owns 9,526 shares of the construction company's stock worth $1,361,000 after buying an additional 1,829 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Owens Corning by 0.6% during the 1st quarter. State of Alaska Department of Revenue now owns 40,619 shares of the construction company's stock worth $5,801,000 after buying an additional 255 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Performance

NYSE:OC opened at $126.29 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. The firm has a 50-day moving average of $145.18 and a two-hundred day moving average of $141.43. The stock has a market cap of $10.56 billion, a P/E ratio of 32.80, a PEG ratio of 9.25 and a beta of 1.32. Owens Corning Inc has a 1-year low of $123.23 and a 1-year high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 earnings per share for the quarter, beating analysts' consensus estimates of $3.80 by $0.41. The company had revenue of $2.75 billion during the quarter, compared to analysts' expectations of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $4.64 EPS. On average, research analysts expect that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning's dividend payout ratio is presently 71.69%.

Analyst Upgrades and Downgrades

OC has been the subject of a number of research analyst reports. Royal Bank Of Canada dropped their price objective on Owens Corning from $184.00 to $180.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Evercore ISI dropped their price objective on Owens Corning from $169.00 to $153.00 and set an "in-line" rating for the company in a report on Tuesday, October 7th. Barclays upped their price objective on Owens Corning from $167.00 to $173.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Wells Fargo & Company upped their price target on shares of Owens Corning from $170.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Finally, Truist Financial decreased their price target on shares of Owens Corning from $165.00 to $135.00 and set a "hold" rating for the company in a research report on Thursday, October 9th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $178.31.

Owens Corning Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.

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