14,600 Owens Corning Inc $OC Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Owens Corning Inc (NYSE:OC) by 109.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,900 shares of the construction company’s stock after buying an additional 14,600 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Owens Corning were worth $3,257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Owens Corning in the second quarter valued at $1,401,161,000. Nykredit A S purchased a new stake in Owens Corning during the 2nd quarter worth about $166,083,000. 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 worth $125,513,000 after purchasing an additional 1,027,800 shares in the last quarter. Bank of America Corp DE bought a new position in Owens Corning in the 2nd quarter worth about $133,685,000. Finally, Sound Shore Management Inc. CT bought a new position in Owens Corning in the 1st quarter worth about $64,102,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

Owens Corning stock opened at $125.39 on Tuesday. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.91. The business has a 50-day simple moving average of $123.82 and a 200 day simple moving average of $126.15. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of -15.56, a PEG ratio of 3.42 and a beta of 1.32.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.84. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.66 billion. Owens Corning had a positive return on equity of 20.52% and a negative net margin of 6.81%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $4.21 EPS. On average, research analysts forecast that Owens Corning Inc will post 9.39 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Monday, October 19th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, October 19th. Owens Corning’s dividend payout ratio is -39.21%.

Analyst Ratings Changes

A number of research firms have weighed in on OC. Citigroup lifted their target price on Owens Corning from $149.00 to $177.00 and gave the company a “buy” rating in a report on Friday, August 7th. Royal Bank Of Canada downgraded shares of Owens Corning from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $172.00 to $127.00 in a report on Wednesday, October 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, September 21st. Truist Financial reduced their price objective on shares of Owens Corning from $140.00 to $115.00 and set a “hold” rating for the company in a research note on Thursday, October 8th. Finally, Bank of America decreased their target price on shares of Owens Corning from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Owens Corning has an average rating of “Hold” and a consensus price target of $142.07.

Insider Buying and Selling at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 900 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $144.07, for a total value of $129,663.00. Following the sale, the insider directly owned 21,449 shares of the company’s stock, valued at $3,090,157.43. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.92% of the company’s stock.

Owens Corning Company Profile

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its offerings are designed to improve energy efficiency, weather protection, durability and comfort in buildings.

The company’s primary businesses include roofing, insulation and doors. Its products include asphalt roofing shingles and components, fiberglass and mineral wool insulation, and residential and commercial door systems.