Hsbc Holdings PLC Sells 19,041 Shares of Owens Corning Inc $OC

Hsbc Holdings PLC reduced its stake in Owens Corning Inc (NYSE:OC) by 44.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 23,771 shares of the construction company’s stock after selling 19,041 shares during the quarter. Hsbc Holdings PLC’s holdings in Owens Corning were worth $2,668,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Groupama Asset Managment raised its position in Owens Corning by 1.8% in the fourth quarter. Groupama Asset Managment now owns 6,153 shares of the construction company’s stock worth $689,000 after acquiring an additional 106 shares during the period. River Road Asset Management LLC grew its position in shares of Owens Corning by 3.0% during the 4th quarter. River Road Asset Management LLC now owns 348,116 shares of the construction company’s stock valued at $38,958,000 after acquiring an additional 10,193 shares during the period. Pacer Advisors Inc. grew its position in shares of Owens Corning by 200.5% during the 4th quarter. Pacer Advisors Inc. now owns 381,887 shares of the construction company’s stock valued at $42,737,000 after acquiring an additional 254,793 shares during the period. Kera Capital Partners Inc. increased its stake in shares of Owens Corning by 18.7% during the 4th quarter. Kera Capital Partners Inc. now owns 3,164 shares of the construction company’s stock worth $379,000 after purchasing an additional 499 shares during the last quarter. Finally, Virtu Financial LLC increased its position in Owens Corning by 18.4% in the fourth quarter. Virtu Financial LLC now owns 3,286 shares of the construction company’s stock worth $368,000 after buying an additional 511 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Down 0.1%

Shares of Owens Corning stock opened at $135.28 on Monday. 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 Inc has a 1 year low of $97.53 and a 1 year high of $159.42. The firm has a market cap of $10.89 billion, a PE ratio of -20.47, a PEG ratio of 2.46 and a beta of 1.34. The company has a 50 day simple moving average of $122.08 and a two-hundred day simple moving average of $119.11.

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

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Owens Corning’s dividend payout ratio is currently -47.81%.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the sale, the insider owned 15,848 shares in the company, valued at $1,913,012.08. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of Owens Corning stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $120.92, for a total value of $232,891.92. Following the sale, the vice president directly owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. This trade represents a 38.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.92% of the company’s stock.

Analysts Set New Price Targets

OC has been the topic of several recent research reports. Evercore set a $139.00 target price on Owens Corning in a research report on Thursday, May 7th. Wells Fargo & Company increased their price objective on Owens Corning from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Royal Bank Of Canada upped their price target on Owens Corning from $134.00 to $148.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $144.82.

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.