Y Intercept Hong Kong Ltd Sells 29,519 Shares of Owens Corning Inc $OC

Y Intercept Hong Kong Ltd reduced its holdings in shares of Owens Corning Inc (NYSE:OC) by 51.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,481 shares of the construction company’s stock after selling 29,519 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Owens Corning were worth $2,974,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of OC. Boothbay Fund Management LLC grew its holdings in Owens Corning by 130.5% during the third quarter. Boothbay Fund Management LLC now owns 81,295 shares of the construction company’s stock valued at $11,500,000 after purchasing an additional 46,022 shares during the period. 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 worth $46,172,000 after buying an additional 19,553 shares during the period. BNP Paribas Financial Markets lifted its position in shares of 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 buying an additional 119,566 shares in the last quarter. Interval Partners LP lifted its position in shares of Owens Corning by 365.8% during the 3rd quarter. Interval Partners LP now owns 184,513 shares of the construction company’s stock valued at $26,101,000 after buying an additional 144,897 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in shares of Owens Corning during the 1st quarter valued at approximately $2,576,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on OC. Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Wells Fargo & Company upped their price target on shares of Owens Corning from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Barclays raised their price objective on shares of Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Owens Corning from $136.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings upgraded Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.58.

Owens Corning Trading Down 3.0%

Shares of Owens Corning stock opened at $142.36 on Wednesday. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.91. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average price of $126.01 and a 200-day moving average price of $120.90. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of -21.54, a PEG ratio of 2.66 and a beta of 1.30.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.21. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.97 EPS. Equities research analysts anticipate that Owens Corning Inc will post 9.53 EPS for the current fiscal year.

Owens Corning Announces Dividend

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

Insider Buying and Selling at Owens Corning

In other news, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were 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 in the company, valued at approximately $374,005.56. This represents a 38.37% decrease in their position. The sale was disclosed in a 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 dated Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the transaction, the insider directly owned 15,848 shares of the company’s stock, valued at approximately $1,913,012.08. The trade was a 4.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by company insiders.

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.