Hsbc Holdings PLC Has $3.08 Million Stock Holdings in Owens Corning Inc $OC

Hsbc Holdings PLC lifted its position in Owens Corning Inc (NYSE:OC) by 20.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 28,728 shares of the construction company’s stock after purchasing an additional 4,957 shares during the quarter. Hsbc Holdings PLC’s holdings in Owens Corning were worth $3,076,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Banque Pictet & Cie SA raised its stake in shares of Owens Corning by 5.0% in the fourth quarter. Banque Pictet & Cie SA now owns 412,579 shares of the construction company’s stock valued at $46,172,000 after acquiring an additional 19,553 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Owens Corning during the 1st quarter worth approximately $2,576,000. BNP Paribas Financial Markets increased its holdings in Owens Corning by 178.2% during the 4th 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 in the last quarter. Raiffeisen Bank International AG increased its holdings 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 valued at $39,976,000 after purchasing an additional 38,885 shares in the last quarter. Finally, Systematic Financial Management LP raised its position in Owens Corning by 10.8% in the 4th quarter. Systematic Financial Management LP now owns 244,437 shares of the construction company’s stock valued at $27,355,000 after purchasing an additional 23,873 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Royal Bank Of Canada increased their price target on Owens Corning from $148.00 to $172.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Barclays raised their price target on Owens Corning from $144.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Finally, Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and an average target price of $157.92.

Owens Corning Stock Performance

Shares of OC stock opened at $142.41 on Friday. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.91. The company’s fifty day simple moving average is $131.26 and its 200-day simple moving average is $123.39. The firm has a market cap of $11.47 billion, a PE ratio of -21.55, a P/E/G ratio of 2.76 and a beta of 1.30. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27.

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

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 20th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, July 20th. Owens Corning’s dividend payout ratio is presently -47.81%.

Insider Activity

In related news, VP Mari Doerfler sold 1,926 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the transaction, the vice president directly owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. The trade was a 38.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rachel Barthelemy Marcon sold 700 shares of the stock in a transaction on 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.92% of the company’s stock.

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.