Oddo BHF Asset Management Sas Buys Shares of 3,786 Owens Corning Inc $OC

Oddo BHF Asset Management Sas bought a new stake in shares of Owens Corning Inc (NYSE:OC) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,786 shares of the construction company’s stock, valued at approximately $410,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of Owens Corning by 460.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company’s stock worth $146,940,000 after purchasing an additional 1,078,877 shares during the last quarter. Norges Bank purchased a new position in Owens Corning in the 4th quarter worth about $119,748,000. Allspring Global Investments Holdings LLC lifted its holdings 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 valued at $125,513,000 after buying an additional 1,027,800 shares in the last quarter. Gendell Jeffrey L lifted its holdings in Owens Corning by 349.3% during the 4th quarter. Gendell Jeffrey L now owns 922,063 shares of the construction company’s stock valued at $103,188,000 after buying an additional 716,839 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Owens Corning by 33.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,576,405 shares of the construction company’s stock valued at $288,332,000 after buying an additional 645,773 shares during the period. 88.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Owens Corning

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the business’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 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were 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 in the company, valued at approximately $374,005.56. The trade was a 38.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.92% of the company’s stock.

Owens Corning Price Performance

NYSE OC opened at $139.10 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. The firm’s 50 day moving average price is $133.51 and its 200-day moving average price is $124.13. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.91. The company has a market cap of $11.20 billion, a PE ratio of -21.04, a P/E/G ratio of 2.65 and a beta of 1.30.

Owens Corning (NYSE:OC) last issued its quarterly earnings data 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 company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. Owens Corning’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.97 earnings per share. Sell-side analysts forecast that Owens Corning Inc will post 9.55 EPS for the current fiscal year.

Owens Corning Dividend Announcement

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

Analyst Upgrades and Downgrades

OC has been the topic of a number of research reports. Truist Financial raised their target price on shares of Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Wells Fargo & Company raised their price objective on Owens Corning from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings raised Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.92.

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.