Wedge Capital Management L L P NC cut its stake in shares of Owens Corning Inc (NYSE:OC – Free Report) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,748 shares of the construction company’s stock after selling 8,565 shares during the period. Wedge Capital Management L L P NC owned about 0.11% of Owens Corning worth $14,266,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Owens Corning by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 9,765,729 shares of the construction company’s stock valued at $1,092,883,000 after acquiring an additional 84,096 shares in the last quarter. State Street Corp boosted its position in Owens Corning by 2.3% in the third quarter. State Street Corp now owns 3,634,987 shares of the construction company’s stock worth $514,205,000 after purchasing an additional 81,133 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Owens Corning by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,764,616 shares of the construction company’s stock worth $299,167,000 after purchasing an additional 188,211 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Owens Corning by 9.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,594,229 shares of the construction company’s stock valued at $290,321,000 after purchasing an additional 231,871 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Owens Corning by 22.7% during the 1st quarter. First Trust Advisors LP now owns 2,179,214 shares of the construction company’s stock worth $235,835,000 after purchasing an additional 403,803 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.
Insider Transactions at Owens Corning
In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the transaction, the insider directly 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 document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Read Our Latest Stock Report on Owens Corning
Owens Corning Stock Performance
Shares of OC opened at $155.44 on Thursday. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.91. The stock’s 50-day simple moving average is $138.83 and its 200 day simple moving average is $125.84. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 1.16. The stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of -19.29, a price-to-earnings-growth ratio of 2.76 and a beta of 1.32.
Owens Corning (NYSE:OC – Get Free Report) last posted its earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share 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 business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the firm earned $4.21 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. Research analysts forecast that Owens Corning Inc will post 9.65 EPS for the current fiscal year.
Owens Corning Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, July 20th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, July 20th. Owens Corning’s dividend payout ratio is -39.21%.
Owens Corning 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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