Dala Group LLC Takes $1.18 Million Position in Owens Corning Inc $OC

Dala Group LLC bought a new position in shares of Owens Corning Inc (NYSE:OC) in the first quarter, HoldingsChannel reports. The institutional investor bought 10,936 shares of the construction company’s stock, valued at approximately $1,184,000. Owens Corning comprises about 1.0% of Dala Group LLC’s holdings, making the stock its 23rd largest holding.

Other large investors have also made changes to their positions in the company. Pitcairn Co. increased its position in Owens Corning by 4.6% in the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock worth $250,000 after purchasing an additional 80 shares during the period. First Pacific Financial lifted its position in Owens Corning by 2.3% during the 1st quarter. First Pacific Financial now owns 3,749 shares of the construction company’s stock valued at $406,000 after purchasing an additional 85 shares during the period. Viawealth LLC lifted its position in Owens Corning by 3.6% during the 4th quarter. Viawealth LLC now owns 2,563 shares of the construction company’s stock valued at $287,000 after purchasing an additional 88 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of Owens Corning by 2.9% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company’s stock valued at $343,000 after purchasing an additional 90 shares during the last quarter. Finally, Groupama Asset Managment boosted its stake in shares of Owens Corning by 1.8% in the 4th quarter. Groupama Asset Managment now owns 6,153 shares of the construction company’s stock valued at $689,000 after purchasing an additional 106 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Performance

OC stock opened at $139.13 on Friday. Owens Corning Inc has a 1-year low of $97.53 and a 1-year 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 firm has a market cap of $11.20 billion, a PE ratio of -21.05, a P/E/G ratio of 2.70 and a beta of 1.30. The business’s 50-day moving average price is $133.95 and its two-hundred day moving average price is $124.23.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the company earned $2.97 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, research analysts forecast that Owens Corning Inc will post 9.55 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently announced 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. This represents a $3.16 annualized dividend and a yield of 2.3%. The ex-dividend date is Monday, July 20th. Owens Corning’s dividend payout ratio (DPR) is -47.81%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on OC shares. Truist Financial boosted their price target on shares of Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their price objective on shares of Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. The Goldman Sachs Group lifted their target price on shares of Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Royal Bank Of Canada upped their target price on shares of Owens Corning from $148.00 to $172.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Finally, Weiss Ratings raised Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $157.92.

Insider Buying and Selling

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction that occurred 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 transaction, the insider owned 15,848 shares in the company, valued at $1,913,012.08. This 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 available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the stock in a transaction 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 sale, the vice president directly owned 3,093 shares of the company’s stock, valued at $374,005.56. This represents a 38.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.92% of the company’s stock.

Owens Corning Company 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.