V Square Quantitative Management LLC Sells 2,997 Shares of Owens Corning Inc $OC

Key Points

• V Square Quantitative Management LLC sold 2,997 shares of Owens Corning Inc, reducing its stake by 68.8% to 1,361 shares, worth approximately $187,000.
• Owens Corning reported a quarterly earnings per share (EPS) of $4.21, exceeding analysts' expectations of $3.80, with revenue increasing by 10% year-over-year to $2.75 billion.
• The company has announced a quarterly dividend of $0.69, with an annualized yield of 2.0%, payable on November 6th to shareholders recorded by October 20th.

V Square Quantitative Management LLC reduced its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 68.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,361 shares of the construction company's stock after selling 2,997 shares during the period. V Square Quantitative Management LLC's holdings in Owens Corning were worth $187,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. NorthCrest Asset Manangement LLC raised its stake in shares of Owens Corning by 0.6% in the first quarter. NorthCrest Asset Manangement LLC now owns 13,043 shares of the construction company's stock worth $1,863,000 after acquiring an additional 74 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Owens Corning by 9.8% in the first quarter. UMB Bank n.a. now owns 1,000 shares of the construction company's stock worth $143,000 after acquiring an additional 89 shares during the last quarter. Archer Investment Corp raised its stake in shares of Owens Corning by 17.9% in the first quarter. Archer Investment Corp now owns 660 shares of the construction company's stock worth $94,000 after acquiring an additional 100 shares during the last quarter. Resonant Capital Advisors LLC raised its stake in shares of Owens Corning by 6.3% in the first quarter. Resonant Capital Advisors LLC now owns 1,745 shares of the construction company's stock worth $250,000 after acquiring an additional 103 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its stake in shares of Owens Corning by 6.7% in the first quarter. CreativeOne Wealth LLC now owns 1,649 shares of the construction company's stock worth $236,000 after acquiring an additional 103 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Down 0.4%

Shares of NYSE:OC opened at $140.79 on Friday. Owens Corning Inc has a 52 week low of $123.40 and a 52 week high of $214.53. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52. The company has a market capitalization of $11.77 billion, a PE ratio of 36.57, a PEG ratio of 10.01 and a beta of 1.32. The company has a 50 day moving average price of $147.54 and a two-hundred day moving average price of $142.53.

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

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 20th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 20th. Owens Corning's dividend payout ratio is presently 71.69%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Owens Corning from $165.00 to $169.00 and gave the stock an "in-line" rating in a research note on Friday, August 8th. Bank of America dropped their target price on shares of Owens Corning from $180.00 to $168.00 and set a "buy" rating for the company in a research note on Wednesday. UBS Group dropped their price target on shares of Owens Corning from $218.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company boosted their price target on shares of Owens Corning from $170.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Finally, Royal Bank Of Canada dropped their price target on shares of Owens Corning from $184.00 to $180.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Owens Corning has a consensus rating of "Moderate Buy" and a consensus price target of $183.55.

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.

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