Pictet Asset Management Holding SA decreased its holdings in Owens Corning Inc (NYSE:OC – Free Report) by 10.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 92,799 shares of the construction company’s stock after selling 10,256 shares during the period. Pictet Asset Management Holding SA’s holdings in Owens Corning were worth $10,043,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of OC. Arrowstreet Capital Limited Partnership lifted its position in shares of Owens Corning by 460.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company’s stock worth $146,940,000 after buying an additional 1,078,877 shares during the last quarter. Norges Bank acquired a new stake in Owens Corning in the fourth quarter valued at about $119,748,000. Gendell Jeffrey L grew its position in Owens Corning by 349.3% in the fourth quarter. Gendell Jeffrey L now owns 922,063 shares of the construction company’s stock valued at $103,188,000 after acquiring an additional 716,839 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Owens Corning by 33.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,576,405 shares of the construction company’s stock worth $288,332,000 after acquiring an additional 645,773 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Owens Corning by 51.8% during the fourth quarter. First Trust Advisors LP now owns 1,775,411 shares of the construction company’s stock worth $198,686,000 after acquiring an additional 605,926 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.
Insider Activity at Owens Corning
In other Owens Corning news, VP Mari Doerfler sold 1,926 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $120.92, for a total transaction of $232,891.92. Following the completion of the transaction, the vice president owned 3,093 shares in the company, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the transaction, the insider owned 15,848 shares in the company, valued at $1,913,012.08. This trade represents a 4.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Analysis on Owens Corning
Owens Corning Stock Down 0.0%
Shares of NYSE:OC opened at $151.01 on Friday. The firm has a market cap of $12.16 billion, a P/E ratio of -22.85, a P/E/G ratio of 2.74 and a beta of 1.30. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.91. The business has a fifty day simple moving average of $125.26 and a 200 day simple moving average of $120.43. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27.
Owens Corning (NYSE:OC – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.21. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The business’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.97 EPS. Analysts predict that Owens Corning Inc will post 9.53 earnings per share for the current year.
Owens Corning Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, July 20th. Owens Corning’s payout ratio is currently -47.81%.
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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