Rathbones Group PLC Trims Stock Holdings in Owens Corning (NYSE:OC)

Rathbones Group PLC lowered its holdings in Owens Corning (NYSE:OC) by 40.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,966 shares of the construction company’s stock after selling 13,124 shares during the period. Rathbones Group PLC’s holdings in Owens Corning were worth $1,817,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp lifted its holdings in Owens Corning by 3.7% during the 3rd quarter. State Street Corp now owns 4,301,672 shares of the construction company’s stock worth $338,154,000 after buying an additional 155,155 shares during the last quarter. Davis Selected Advisers lifted its holdings in Owens Corning by 7.0% during the 4th quarter. Davis Selected Advisers now owns 3,608,040 shares of the construction company’s stock worth $307,766,000 after buying an additional 234,900 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Owens Corning by 6.7% during the 4th quarter. Victory Capital Management Inc. now owns 3,345,967 shares of the construction company’s stock worth $291,106,000 after buying an additional 210,192 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Owens Corning by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,369,167 shares of the construction company’s stock worth $202,097,000 after buying an additional 76,454 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in Owens Corning by 3.3% during the 1st quarter. LSV Asset Management now owns 2,104,895 shares of the construction company’s stock worth $201,649,000 after buying an additional 68,100 shares during the last quarter. Hedge funds and other institutional investors own 90.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on OC shares. StockNews.com downgraded Owens Corning from a “strong-buy” rating to a “buy” rating in a report on Monday. Bank of America boosted their price objective on Owens Corning from $127.00 to $152.00 in a research report on Friday, July 14th. Jefferies Financial Group boosted their price objective on Owens Corning from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Truist Financial boosted their price objective on Owens Corning from $105.00 to $135.00 in a research report on Thursday, July 6th. Finally, Loop Capital boosted their price objective on Owens Corning from $138.00 to $157.00 in a research report on Thursday, July 27th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $140.92.

Owens Corning Trading Up 0.4 %

Shares of OC stock opened at $142.20 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.37 and a current ratio of 2.07. Owens Corning has a 1 year low of $74.22 and a 1 year high of $143.70. The stock has a fifty day moving average of $135.20 and a two-hundred day moving average of $114.35. The firm has a market capitalization of $12.77 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 1.29 and a beta of 1.48.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, July 26th. The construction company reported $4.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.25 by $0.97. Owens Corning had a return on equity of 25.59% and a net margin of 13.62%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm posted $3.83 EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, research analysts expect that Owens Corning will post 13.59 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 4th. Stockholders of record on Monday, July 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, July 14th. Owens Corning’s dividend payout ratio is presently 14.74%.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 6,900 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $115.01, for a total value of $793,569.00. Following the sale, the insider now owns 31,153 shares of the company’s stock, valued at approximately $3,582,906.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Gunner Smith sold 6,900 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $115.01, for a total value of $793,569.00. Following the sale, the insider now owns 31,153 shares of the company’s stock, valued at approximately $3,582,906.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Todd W. Fister sold 5,375 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $136.23, for a total value of $732,236.25. Following the sale, the insider now directly owns 26,067 shares in the company, valued at $3,551,107.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,308 shares of company stock valued at $1,672,109. Corporate insiders own 0.89% of the company’s stock.

About Owens Corning

Owens Corning engages in manufacture and sale of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, Latin America, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.