Owens Corning Inc $OC Stock Holdings Cut by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt cut its position in shares of Owens Corning Inc (NYSE:OC) by 67.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 17,950 shares of the construction company’s stock after selling 37,900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Owens Corning were worth $1,975,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of OC. Sanctuary Advisors LLC grew its holdings in Owens Corning by 14.3% during the first quarter. Sanctuary Advisors LLC now owns 17,212 shares of the construction company’s stock worth $1,863,000 after acquiring an additional 2,157 shares during the period. Calamos Wealth Management LLC bought a new stake in Owens Corning in the first quarter worth about $318,000. Calamos Advisors LLC acquired a new stake in Owens Corning in the 1st quarter valued at about $318,000. AMG National Trust Bank acquired a new stake in Owens Corning in the 1st quarter valued at about $1,041,000. Finally, State of Michigan Retirement System boosted its position in shares of Owens Corning by 2.1% during the 1st quarter. State of Michigan Retirement System now owns 19,808 shares of the construction company’s stock valued at $2,144,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In other news, 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 value of $232,891.92. Following the completion of the sale, the vice president owned 3,093 shares in the company, valued at $374,005.56. This represents a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the sale, the insider directly owned 15,848 shares of the company’s stock, 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. 0.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

OC has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of Owens Corning from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Tuesday. Bank of America reduced their target price on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a report on Monday, April 20th. Barclays upped their price target on Owens Corning from $144.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday. Evercore upgraded Owens Corning from an “in-line” rating to an “outperform” rating and set a $188.00 price objective for the company in a research report on Tuesday, June 30th. Finally, Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and an average price target of $157.50.

Owens Corning Stock Performance

Shares of OC opened at $142.82 on Wednesday. Owens Corning Inc has a one year low of $97.53 and a one year high of $159.91. The company has a 50-day moving average of $127.77 and a two-hundred day moving average of $121.85. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of -21.61, a PEG ratio of 2.56 and a beta of 1.30. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74.

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

Owens Corning Announces Dividend

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

About Owens Corning

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.