Skandinaviska Enskilda Banken AB publ Trims Holdings in Owens Corning Inc $OC

Skandinaviska Enskilda Banken AB publ lowered its position in shares of Owens Corning Inc (NYSE:OC) by 3.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 459,346 shares of the construction company’s stock after selling 16,258 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Owens Corning were worth $63,169,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Owens Corning by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 9,947,480 shares of the construction company’s stock valued at $1,367,977,000 after purchasing an additional 131,795 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Owens Corning by 67.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,380,123 shares of the construction company’s stock worth $339,930,000 after purchasing an additional 957,295 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Owens Corning by 0.7% during the second quarter. Nordea Investment Management AB now owns 2,225,800 shares of the construction company’s stock worth $305,291,000 after acquiring an additional 15,927 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Owens Corning by 1.9% during the 1st quarter. LSV Asset Management now owns 1,476,067 shares of the construction company’s stock valued at $210,812,000 after purchasing an additional 27,185 shares during the last quarter. Finally, Norges Bank purchased a new position in Owens Corning during the 2nd quarter valued at approximately $163,719,000. 88.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on OC shares. Vertical Research started coverage on shares of Owens Corning in a report on Monday, October 20th. They issued a “hold” rating on the stock. Wells Fargo & Company reduced their price objective on shares of Owens Corning from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Zacks Research lowered Owens Corning from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Evercore ISI set a $121.00 target price on Owens Corning in a research note on Thursday, November 6th. Finally, Barclays cut their price objective 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. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $157.67.

Owens Corning Price Performance

OC opened at $111.67 on Friday. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $210.79. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.98. The business’s fifty day simple moving average is $122.95 and its 200-day simple moving average is $136.24. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 9.10 and a beta of 1.31.

Owens Corning (NYSE:OC) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the previous year, the company posted $4.38 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Owens Corning has set its Q4 2025 guidance at EPS. On average, equities research analysts anticipate that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Monday, October 20th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, October 20th. Owens Corning’s dividend payout ratio is presently -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.