Handelsbanken Fonder AB Trims Stake in Owens Corning Inc $OC

Handelsbanken Fonder AB lessened its position in Owens Corning Inc (NYSE:OC) by 11.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,300 shares of the construction company’s stock after selling 2,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Owens Corning were worth $3,067,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Prudential PLC bought a new position in Owens Corning in the 2nd quarter valued at $521,000. MainStreet Investment Advisors LLC boosted its stake in shares of Owens Corning by 5.6% during the second quarter. MainStreet Investment Advisors LLC now owns 3,767 shares of the construction company’s stock valued at $518,000 after purchasing an additional 199 shares during the period. Vanguard Group Inc. grew its holdings in shares of Owens Corning by 1.3% in the second quarter. Vanguard Group Inc. now owns 9,947,480 shares of the construction company’s stock worth $1,367,977,000 after purchasing an additional 131,795 shares during the last quarter. WBI Investments LLC purchased a new position in Owens Corning in the 2nd quarter worth about $843,000. Finally, Intrust Bank NA lifted its holdings in Owens Corning by 7.6% during the 2nd quarter. Intrust Bank NA now owns 2,233 shares of the construction company’s stock valued at $307,000 after buying an additional 157 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Trading Up 0.6%

NYSE OC opened at $104.84 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.52 and a debt-to-equity ratio of 0.98. The firm has a market cap of $8.62 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 9.10 and a beta of 1.31. The company has a 50 day moving average price of $125.16 and a 200 day moving average price of $136.78. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $214.53.

Owens Corning (NYSE:OC) last released its earnings results 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 analysts’ expectations of $2.71 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. Owens Corning’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the business earned $4.38 EPS. Owens Corning has set its Q4 2025 guidance at EPS. As a group, sell-side analysts forecast that Owens Corning Inc will post 15.49 EPS for the current fiscal 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 paid a dividend of $0.69 per share. The ex-dividend date was Monday, October 20th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.6%. Owens Corning’s dividend payout ratio (DPR) is presently -48.25%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OC. Wells Fargo & Company reduced their target price on shares of Owens Corning from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Truist Financial decreased their target price on Owens Corning from $165.00 to $135.00 and set a “hold” rating for the company in a research report on Thursday, October 9th. Barclays dropped their price target on Owens Corning from $173.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Bank of America decreased their price objective on Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Finally, Evercore ISI set a $121.00 target price on shares of Owens Corning in a report on Thursday, November 6th. Ten analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.