Vanguard Group Inc. Boosts Stock Position in Owens Corning Inc $OC

Vanguard Group Inc. grew its holdings in shares of Owens Corning Inc (NYSE:OC) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,947,480 shares of the construction company’s stock after purchasing an additional 131,795 shares during the quarter. Vanguard Group Inc. owned approximately 11.89% of Owens Corning worth $1,367,977,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. State of Michigan Retirement System grew its position in Owens Corning by 0.4% during the second quarter. State of Michigan Retirement System now owns 24,588 shares of the construction company’s stock valued at $3,381,000 after buying an additional 100 shares during the period. Assetmark Inc. boosted its stake in Owens Corning by 51.0% in the second quarter. Assetmark Inc. now owns 299 shares of the construction company’s stock valued at $41,000 after acquiring an additional 101 shares during the last quarter. CreativeOne Wealth LLC grew its position in shares of Owens Corning by 6.7% during the 1st quarter. CreativeOne Wealth LLC now owns 1,649 shares of the construction company’s stock valued at $236,000 after acquiring an additional 103 shares during the period. ProShare Advisors LLC increased its stake in shares of Owens Corning by 3.2% during the 2nd quarter. ProShare Advisors LLC now owns 3,771 shares of the construction company’s stock worth $519,000 after purchasing an additional 118 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Owens Corning by 6.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,443 shares of the construction company’s stock worth $349,000 after purchasing an additional 141 shares during the period. 88.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on OC shares. Zacks Research lowered Owens Corning from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Barclays dropped their price target on Owens Corning from $173.00 to $131.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Bank of America decreased their price objective on Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. UBS Group lowered their price objective on Owens Corning from $210.00 to $179.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Owens Corning presently has an average rating of “Hold” and an average price target of $157.67.

Owens Corning Stock Performance

Shares of OC opened at $104.08 on Friday. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $214.53. The stock’s 50-day simple moving average is $126.11 and its 200 day simple moving average is $136.95. 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 $8.55 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 9.10 and a beta of 1.31.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.03. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the prior year, the business posted $4.38 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. Owens Corning has set its Q4 2025 guidance at EPS. Research analysts forecast that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Monday, October 20th were paid a $0.69 dividend. The ex-dividend date was Monday, October 20th. This represents a $2.76 annualized dividend and a yield of 2.7%. Owens Corning’s dividend 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.