SG Americas Securities LLC Has $1.03 Million Position in Owens Corning Inc (NYSE:OC)

SG Americas Securities LLC lowered its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 50.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,192 shares of the construction company's stock after selling 7,410 shares during the period. SG Americas Securities LLC's holdings in Owens Corning were worth $1,027,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of OC. Truist Financial Corp raised its holdings in shares of Owens Corning by 4.0% in the fourth quarter. Truist Financial Corp now owns 16,038 shares of the construction company's stock valued at $2,732,000 after buying an additional 624 shares during the last quarter. Allstate Corp purchased a new stake in shares of Owens Corning in the fourth quarter valued at about $425,000. Integrated Quantitative Investments LLC purchased a new stake in shares of Owens Corning in the fourth quarter valued at about $349,000. Principal Financial Group Inc. raised its holdings in shares of Owens Corning by 88.9% in the fourth quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company's stock valued at $66,777,000 after buying an additional 184,552 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Owens Corning by 2.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 640,506 shares of the construction company's stock valued at $109,091,000 after buying an additional 16,958 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Trading Up 0.8%

OC stock traded up $1.05 during midday trading on Friday, reaching $131.64. The stock had a trading volume of 1,829,835 shares, compared to its average volume of 862,097. The business has a fifty day simple moving average of $138.17 and a two-hundred day simple moving average of $156.18. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.02. The firm has a market cap of $11.20 billion, a price-to-earnings ratio of 46.35, a PEG ratio of 3.48 and a beta of 1.34. Owens Corning Inc has a twelve month low of $123.41 and a twelve month high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.15. The firm had revenue of $2.53 billion during 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%. The company's revenue was up 25.4% on a year-over-year basis. During the same period last year, the company earned $3.40 earnings per share. As a group, research analysts expect that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company 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 $0.69 dividend. The ex-dividend date is Monday, July 21st. This represents a $2.76 dividend on an annualized basis and a yield of 2.10%. Owens Corning's payout ratio is 97.18%.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OC. Royal Bank Of Canada reduced their target price on shares of Owens Corning from $199.00 to $184.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Wall Street Zen cut shares of Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Benchmark reiterated a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Evercore ISI set a $165.00 price target on shares of Owens Corning in a research report on Thursday, May 15th. Finally, Wolfe Research upgraded shares of Owens Corning from a "peer perform" rating to an "outperform" rating in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $183.80.

Owens Corning Company 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.