26,574 Shares in Owens Corning Inc $OC Purchased by Great Lakes Advisors LLC

Great Lakes Advisors LLC acquired a new position in shares of Owens Corning Inc (NYSE:OC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 26,574 shares of the construction company’s stock, valued at approximately $4,225,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Owens Corning in the second quarter worth approximately $1,401,161,000. Arrowstreet Capital Limited Partnership grew its position in Owens Corning by 460.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company’s stock valued at $146,940,000 after purchasing an additional 1,078,877 shares in the last quarter. Norges Bank purchased a new position in Owens Corning during the fourth quarter valued at approximately $119,748,000. Allspring Global Investments Holdings LLC increased its stake in Owens Corning by 721.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,170,179 shares of the construction company’s stock valued at $125,513,000 after buying an additional 1,027,800 shares during the period. Finally, Gendell Jeffrey L increased its stake in Owens Corning by 349.3% in the 4th quarter. Gendell Jeffrey L now owns 922,063 shares of the construction company’s stock valued at $103,188,000 after buying an additional 716,839 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Down 2.7%

Shares of Owens Corning stock opened at $147.19 on Friday. The company’s fifty day simple moving average is $142.73 and its 200-day simple moving average is $127.15. The company has a market cap of $11.64 billion, a price-to-earnings ratio of -18.26, a PEG ratio of 2.28 and a beta of 1.32. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.91.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating the consensus estimate of $3.09 by $0.84. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the company earned $4.21 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts expect that Owens Corning Inc will post 9.9 EPS for the current year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 20th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.1%. Owens Corning’s dividend payout ratio is currently -39.21%.

Insider Activity at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the stock in a transaction dated 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 sale, the insider owned 15,848 shares in the company, valued at approximately $1,913,012.08. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on OC shares. JPMorgan Chase & Co. boosted their price target on shares of Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Truist Financial set a $198.00 price objective on Owens Corning in a report on Thursday, August 6th. Weiss Ratings raised Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft increased their price objective on Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Finally, The Goldman Sachs Group boosted their target price on shares of Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and an average target price of $163.25.

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.