Paradiem LLC Sells 2,286 Shares of Owens Corning Inc (NYSE:OC)

Paradiem LLC lessened its holdings in Owens Corning Inc (NYSE:OC - Free Report) by 10.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,247 shares of the construction company's stock after selling 2,286 shares during the period. Paradiem LLC's holdings in Owens Corning were worth $2,749,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in OC. FPC Investment Advisory Inc. bought a new stake in Owens Corning in the 4th quarter valued at $28,000. Venturi Wealth Management LLC grew its holdings in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after buying an additional 63 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in Owens Corning in the 4th quarter valued at $34,000. IFP Advisors Inc grew its holdings in Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock valued at $40,000 after buying an additional 62 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in Owens Corning by 195.1% in the 4th quarter. Assetmark Inc. now owns 239 shares of the construction company's stock valued at $41,000 after buying an additional 158 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Owens Corning Stock Performance

OC opened at $131.64 on Friday. The firm has a market cap of $11.20 billion, a P/E ratio of 46.35, a price-to-earnings-growth ratio of 3.48 and a beta of 1.34. Owens Corning Inc has a 52-week low of $123.41 and a 52-week high of $214.53. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.93 and a current ratio of 1.44. The business's fifty day moving average is $138.17 and its 200-day moving average is $156.18.

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results on Wednesday, May 7th. The construction company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.15. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. Owens Corning had a return on equity of 25.03% and a net margin of 2.28%. Owens Corning's quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.40 EPS. Sell-side analysts expect that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning announced that its Board of Directors has authorized a stock repurchase program on Wednesday, May 14th that allows the company to buyback 12,000,000 shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Monday, July 21st will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $2.76 annualized dividend and a dividend yield of 2.10%. Owens Corning's dividend payout ratio is currently 97.18%.

Analyst Ratings Changes

OC has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Barclays decreased their price objective on Owens Corning from $179.00 to $167.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Evercore ISI set a $165.00 price objective on Owens Corning in a report on Thursday, May 15th. Finally, Wolfe Research raised Owens Corning from a "peer perform" rating to an "outperform" rating in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $183.80.

About Owens Corning

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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