Vise Technologies Inc. Invests $1.52 Million in Owens Corning Inc $OC

Key Points

• Vise Technologies purchased 9,540 Owens Corning shares worth approximately $1.52 million during the second quarter, while institutional investors collectively own 88.4% of the company.
• Owens Corning reported quarterly EPS of $3.93, exceeding estimates of $3.09, on revenue of $2.76 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $163.25.
• The company paid a quarterly dividend of $0.79 per share, equivalent to an annualized $3.16 dividend and a 2.1% yield; shares recently traded at $147.92.

Vise Technologies Inc. purchased a new position in Owens Corning Inc (NYSE:OC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,540 shares of the construction company's stock, valued at approximately $1,516,000.

A number of other large investors also recently bought and sold shares of OC. Louisiana State Employees Retirement System bought a new stake in shares of Owens Corning in the 1st quarter worth approximately $2,576,000. BNP Paribas Financial Markets increased its position in Owens Corning by 178.2% during the 4th quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company's stock valued at $20,888,000 after buying an additional 119,566 shares in the last quarter. Raiffeisen Bank International AG increased its position in Owens Corning by 12.4% during the 4th quarter. Raiffeisen Bank International AG now owns 353,302 shares of the construction company's stock valued at $39,976,000 after buying an additional 38,885 shares in the last quarter. Systematic Financial Management LP raised its stake in Owens Corning by 10.8% during the fourth quarter. Systematic Financial Management LP now owns 244,437 shares of the construction company's stock valued at $27,355,000 after buying an additional 23,873 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Owens Corning by 460.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company's stock valued at $146,940,000 after buying an additional 1,078,877 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the sale, the insider owned 15,848 shares of the company's stock, valued at $1,913,012.08. This trade represents a 4.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by insiders.

Owens Corning Stock Up 0.5%

Owens Corning stock opened at $147.92 on Friday. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.91. The stock has a fifty day simple moving average of $143.26 and a two-hundred day simple moving average of $127.29. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of -18.35, a PEG ratio of 2.23 and a beta of 1.32.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.09 by $0.84. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%.The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the company posted $4.21 earnings per share. The company's quarterly revenue was up .3% on a year-over-year basis. Equities analysts predict that Owens Corning Inc will post 9.9 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 20th were paid a dividend of $0.79 per share. The ex-dividend date was Monday, July 20th. This represents a $3.16 annualized dividend and a yield of 2.1%. Owens Corning's dividend payout ratio is currently -39.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on Owens Corning from $136.00 to $165.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Citigroup upped their price target on shares of Owens Corning from $149.00 to $177.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Owens Corning from $115.00 to $121.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Benchmark reissued a "hold" rating on shares of Owens Corning in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company raised their price objective on shares of Owens Corning from $150.00 to $165.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $163.25.

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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