Ethic Inc. Sells 4,087 Shares of Owens Corning Inc $OC

Ethic Inc. lessened its stake in shares of Owens Corning Inc (NYSE:OC) by 46.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,744 shares of the construction company’s stock after selling 4,087 shares during the quarter. Ethic Inc.’s holdings in Owens Corning were worth $655,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of OC. Bangor Savings Bank acquired a new stake in Owens Corning during the 2nd quarter worth approximately $28,000. Ameritas Advisory Services LLC acquired a new position in shares of Owens Corning during the second quarter worth $42,000. Wayfinding Financial LLC bought a new stake in shares of Owens Corning in the first quarter worth $60,000. IFP Advisors Inc increased its holdings in Owens Corning by 76.0% in the second quarter. IFP Advisors Inc now owns 461 shares of the construction company’s stock valued at $63,000 after purchasing an additional 199 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in Owens Corning by 61.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock worth $69,000 after purchasing an additional 184 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada decreased their price target on Owens Corning from $184.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Barclays upped their target price on Owens Corning from $167.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Bank of America decreased 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 report on Wednesday, October 1st. Truist Financial dropped their price target on shares of Owens Corning from $165.00 to $135.00 and set a “hold” rating on the stock in a research report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Owens Corning in a research report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

Owens Corning Price Performance

OC stock opened at $127.42 on Tuesday. The company has a market capitalization of $10.66 billion, a P/E ratio of 33.10, a price-to-earnings-growth ratio of 9.33 and a beta of 1.32. Owens Corning Inc has a 52-week low of $123.23 and a 52-week high of $214.53. The business has a 50-day simple moving average of $142.24 and a two-hundred day simple moving average of $141.09. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52.

Owens Corning (NYSE:OC) last released its quarterly earnings results 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. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the firm earned $4.64 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. Research analysts expect that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, October 20th. Owens Corning’s dividend payout ratio is 71.69%.

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.