Davis Selected Advisers Has $243.29 Million Stake in Owens Corning Inc $OC

Davis Selected Advisers reduced its stake in Owens Corning Inc (NYSE:OC) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,769,093 shares of the construction company’s stock after selling 18,149 shares during the quarter. Owens Corning makes up 1.3% of Davis Selected Advisers’ investment portfolio, making the stock its 22nd largest holding. Davis Selected Advisers’ holdings in Owens Corning were worth $243,286,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its stake in Owens Corning by 0.7% in the 2nd quarter. Nordea Investment Management AB now owns 2,225,800 shares of the construction company’s stock valued at $305,291,000 after buying an additional 15,927 shares during the last quarter. Financial Partners Group LLC lifted its position in Owens Corning by 23.2% during the 2nd quarter. Financial Partners Group LLC now owns 11,994 shares of the construction company’s stock worth $1,649,000 after acquiring an additional 2,259 shares during the last quarter. Fox Run Management L.L.C. boosted its holdings in Owens Corning by 307.6% during the second quarter. Fox Run Management L.L.C. now owns 6,428 shares of the construction company’s stock valued at $884,000 after acquiring an additional 4,851 shares during the period. Cincinnati Financial Corp grew its position in shares of Owens Corning by 94.3% in the second quarter. Cincinnati Financial Corp now owns 171,000 shares of the construction company’s stock valued at $23,516,000 after purchasing an additional 83,000 shares during the last quarter. Finally, Highland Capital Management LLC acquired a new stake in shares of Owens Corning in the second quarter valued at about $297,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Down 0.6%

OC opened at $102.50 on Friday. The company has a market capitalization of $8.42 billion, a P/E ratio of 26.62, a P/E/G ratio of 9.10 and a beta of 1.31. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. The firm’s fifty day moving average price is $132.54 and its two-hundred day moving average price is $138.86. Owens Corning Inc has a fifty-two week low of $102.16 and a fifty-two week high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.03. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.71 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the firm earned $4.38 EPS. Owens Corning has set its Q4 2025 guidance at EPS. On average, analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Monday, October 20th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, October 20th. Owens Corning’s payout ratio is presently -48.25%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Barclays cut their price objective on Owens Corning from $173.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Vertical Research assumed coverage on Owens Corning in a report on Monday, October 20th. They set a “hold” rating for the company. Royal Bank Of Canada lowered their price objective on shares of Owens Corning from $174.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Truist Financial dropped their target price 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 downgraded shares of Owens Corning from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, November 7th. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Hold” and a consensus target price of $157.67.

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.