Systematic Financial Management LP Has $25.92 Million Position in Owens Corning Inc $OC

Systematic Financial Management LP lessened its holdings in shares of Owens Corning Inc (NYSE:OC) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,548 shares of the construction company’s stock after selling 4,889 shares during the period. Systematic Financial Management LP owned approximately 0.30% of Owens Corning worth $25,924,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Banque Pictet & Cie SA increased its stake in Owens Corning by 5.0% during the fourth quarter. Banque Pictet & Cie SA now owns 412,579 shares of the construction company’s stock worth $46,172,000 after purchasing an additional 19,553 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Owens Corning by 178.2% in the fourth quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company’s stock valued at $20,888,000 after purchasing an additional 119,566 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Owens Corning in the first quarter valued at approximately $2,576,000. Raiffeisen Bank International AG increased its stake in Owens Corning by 12.4% during the 4th quarter. Raiffeisen Bank International AG now owns 353,302 shares of the construction company’s stock worth $39,976,000 after buying an additional 38,885 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Owens Corning by 1,243.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 39,134 shares of the construction company’s stock worth $4,379,000 after buying an additional 36,222 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OC. Barclays increased their price objective on Owens Corning from $144.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Evercore reissued an “outperform” rating and set a $193.00 target price on shares of Owens Corning in a research note on Thursday. JPMorgan Chase & Co. increased their price target on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, July 15th. Finally, Wells Fargo & Company boosted their price objective on Owens Corning from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and an average target price of $157.92.

Insider Transactions at Owens Corning

In other news, VP Mari Doerfler sold 1,926 shares of Owens Corning stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the sale, the vice president owned 3,093 shares in the company, valued at approximately $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rachel Barthelemy Marcon sold 700 shares of the business’s 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 directly owned 15,848 shares of the company’s stock, valued at $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by insiders.

Owens Corning Trading Down 0.6%

Shares of Owens Corning stock opened at $139.00 on Friday. The company has a fifty day simple moving average of $130.69 and a 200-day simple moving average of $123.26. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.91. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The stock has a market cap of $11.19 billion, a price-to-earnings ratio of -21.03, a PEG ratio of 2.71 and a beta of 1.30.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period last year, the business earned $2.97 EPS. Owens Corning’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities analysts forecast that Owens Corning Inc will post 9.55 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Monday, July 20th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $3.16 annualized dividend and a dividend yield of 2.3%. Owens Corning’s dividend payout ratio (DPR) is presently -47.81%.

About Owens Corning

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.