Bank of New York Mellon Corp Sells 60,752 Shares of Owens Corning Inc $OC

Bank of New York Mellon Corp lessened its holdings in Owens Corning Inc (NYSE:OC) by 7.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 804,913 shares of the construction company’s stock after selling 60,752 shares during the quarter. Bank of New York Mellon Corp owned about 0.95% of Owens Corning worth $110,692,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Bangor Savings Bank bought a new stake in shares of Owens Corning in the 2nd quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Owens Corning during the second quarter valued at $30,000. Chilton Capital Management LLC purchased a new position in Owens Corning during the second quarter valued at $37,000. Assetmark Inc. boosted its holdings in Owens Corning by 51.0% in the second quarter. Assetmark Inc. now owns 299 shares of the construction company’s stock worth $41,000 after acquiring an additional 101 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Owens Corning in the second quarter worth $42,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial lowered their price target 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 reduced their price objective on shares of Owens Corning from $173.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday. Royal Bank Of Canada dropped their target price 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. Vertical Research began coverage on shares of Owens Corning in a report on Monday, October 20th. They set a “hold” rating on the stock. Finally, UBS Group decreased their price objective on shares of Owens Corning from $210.00 to $179.00 and set a “buy” rating for the company in a report on Thursday. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $162.92.

Owens Corning Price Performance

OC opened at $104.09 on Friday. The company’s 50-day simple moving average is $136.30 and its two-hundred day simple moving average is $139.91. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52. The stock has a market capitalization of $8.70 billion, a P/E ratio of 27.04, a P/E/G ratio of 9.10 and a beta of 1.31. Owens Corning Inc has a 52-week low of $103.05 and a 52-week high of $214.53.

Owens Corning (NYSE:OC) last announced its quarterly 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. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the business posted $4.38 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. Owens Corning has set its Q4 2025 guidance at EPS. As a group, analysts predict that Owens Corning Inc will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The business also recently announced 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 yield of 2.7%. Owens Corning’s payout ratio is currently -48.25%.

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.