State of Wyoming trimmed its holdings in Owens Corning Inc (NYSE:OC – Free Report) by 92.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,550 shares of the construction company’s stock after selling 53,714 shares during the period. State of Wyoming’s holdings in Owens Corning were worth $531,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of OC. Basecamp Wealth Advisors LLC boosted its holdings in shares of Owens Corning by 3.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 3,317 shares of the construction company’s stock valued at $359,000 after purchasing an additional 97 shares in the last quarter. HM Payson & Co. increased its position in Owens Corning by 203.6% in the 2nd quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock valued at $27,000 after acquiring an additional 112 shares during the period. V Square Quantitative Management LLC lifted its holdings in Owens Corning by 26.9% during the 3rd quarter. V Square Quantitative Management LLC now owns 556 shares of the construction company’s stock worth $65,000 after buying an additional 118 shares during the period. Versant Capital Management Inc boosted its holdings in Owens Corning by 13.8% in the second quarter. Versant Capital Management Inc now owns 1,017 shares of the construction company’s stock valued at $162,000 after acquiring an additional 123 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Owens Corning by 15.9% during the third quarter. Signaturefd LLC now owns 1,070 shares of the construction company’s stock worth $125,000 after buying an additional 147 shares during the period. Institutional investors own 88.40% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on OC shares. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, July 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, September 21st. Zacks Research downgraded Owens Corning from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 12th. Truist Financial dropped their price target on shares of Owens Corning from $140.00 to $115.00 and set a “hold” rating on the stock in a research note on Thursday, October 8th. Finally, DA Davidson set a $143.00 price objective on Owens Corning in a research report on Friday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $142.07.
Read Our Latest Analysis on OC
Insider Transactions at Owens Corning
In other news, insider Rachel Barthelemy Marcon sold 900 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $144.07, for a total transaction of $129,663.00. Following the transaction, the insider owned 21,449 shares of the company’s stock, valued at approximately $3,090,157.43. The trade was a 4.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by company insiders.
Owens Corning Stock Performance
Shares of OC opened at $125.39 on Tuesday. Owens Corning Inc has a one year low of $97.53 and a one year high of $159.91. The firm has a market capitalization of $9.91 billion, a P/E ratio of -15.56, a PEG ratio of 3.42 and a beta of 1.32. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.16 and a quick ratio of 0.67. The business has a fifty day moving average of $123.82 and a 200 day moving average of $126.15.
Owens Corning (NYSE:OC – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, topping 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 analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the business posted $4.21 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Owens Corning Inc will post 9.39 EPS for the current year.
Owens Corning Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, October 19th will be issued a $0.79 dividend. The ex-dividend date is Monday, October 19th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.5%. Owens Corning’s payout ratio is -39.21%.
About Owens Corning
Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its offerings are designed to improve energy efficiency, weather protection, durability and comfort in buildings.
The company’s primary businesses include roofing, insulation and doors. Its products include asphalt roofing shingles and components, fiberglass and mineral wool insulation, and residential and commercial door systems.
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