53,714 Owens Corning Inc $OC Shares Sold by State of Wyoming

State of Wyoming trimmed its position in Owens Corning Inc (NYSE:OC) by 92.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,550 shares of the construction company’s stock after selling 53,714 shares during the period. State of Wyoming’s holdings in Owens Corning were worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Owens Corning in the 2nd quarter worth $1,401,161,000. Nykredit A S acquired a new stake in shares of Owens Corning during the 2nd quarter worth about $166,083,000. Allspring Global Investments Holdings LLC lifted its stake in Owens Corning by 721.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,170,179 shares of the construction company’s stock worth $125,513,000 after acquiring an additional 1,027,800 shares in the last quarter. Bank of America Corp DE purchased a new position in Owens Corning in the 2nd quarter valued at approximately $133,685,000. Finally, Sound Shore Management Inc. CT purchased a new stake in shares of Owens Corning in the 1st quarter valued at approximately $64,102,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OC has been the topic of several research reports. Evercore set a $185.00 price objective on Owens Corning in a report on Thursday, October 1st. Barclays reduced their target price on shares of Owens Corning from $177.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, October 6th. Melius Research initiated coverage on Owens Corning in a research report on Tuesday, October 6th. They issued a “sell” rating and a $118.00 price objective for the company. Vertical Research downgraded shares of Owens Corning from a “hold” rating to a “sell” rating and set a $106.00 price target for the company. in a research report on Wednesday, October 7th. Finally, Bank of America lowered their price objective on shares of Owens Corning from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $142.07.

Owens Corning Stock Up 3.5%

NYSE OC opened at $125.39 on Tuesday. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $159.91. The stock has a market cap of $9.91 billion, a PE ratio of -15.56, a P/E/G ratio of 3.42 and a beta of 1.32. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10. The business has a 50 day moving average price of $123.82 and a two-hundred day moving average price of $126.15.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.84. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%. Owens Corning’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.21 earnings per share. As a group, sell-side analysts predict that Owens Corning Inc will post 9.39 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Monday, October 19th will be given a $0.79 dividend. The ex-dividend date is Monday, October 19th. This represents a $3.16 annualized dividend and a yield of 2.5%. Owens Corning’s payout ratio is -39.21%.

Insiders Place Their Bets

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 900 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $144.07, for a total transaction of $129,663.00. Following the sale, the insider directly owned 21,449 shares of the company’s stock, valued at $3,090,157.43. The trade was a 4.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company’s stock.

Owens Corning Profile

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its offerings are designed to improve energy efficiency, weather protection, durability and comfort in buildings.

The company’s primary businesses include roofing, insulation and doors. Its products include asphalt roofing shingles and components, fiberglass and mineral wool insulation, and residential and commercial door systems.