SG Americas Securities LLC Purchases 144,324 Shares of Owens Corning Inc $OC

SG Americas Securities LLC raised its position in shares of Owens Corning Inc (NYSE:OC) by 67.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 356,932 shares of the construction company’s stock after buying an additional 144,324 shares during the quarter. SG Americas Securities LLC’s holdings in Owens Corning were worth $38,627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Owens Corning by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 9,765,729 shares of the construction company’s stock worth $1,092,883,000 after acquiring an additional 84,096 shares in the last quarter. State Street Corp boosted its stake in Owens Corning by 2.3% in the third quarter. State Street Corp now owns 3,634,987 shares of the construction company’s stock valued at $514,205,000 after acquiring an additional 81,133 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Owens Corning by 9.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,594,229 shares of the construction company’s stock worth $290,321,000 after purchasing an additional 231,871 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Owens Corning by 33.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,576,405 shares of the construction company’s stock worth $288,332,000 after purchasing an additional 645,773 shares during the last quarter. Finally, Davis Selected Advisers increased its position in shares of Owens Corning by 15.1% during the fourth quarter. Davis Selected Advisers now owns 2,046,583 shares of the construction company’s stock worth $229,035,000 after purchasing an additional 269,216 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 0.5%

Owens Corning stock opened at $124.00 on Wednesday. The business’s 50-day moving average price is $121.06 and its 200 day moving average price is $118.63. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of -18.76, a price-to-earnings-growth ratio of 2.26 and a beta of 1.34. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.42.

Owens Corning (NYSE:OC) last announced 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. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.Owens Corning’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.97 earnings per share. As a group, sell-side analysts anticipate that Owens Corning Inc will post 9.53 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a yield of 2.5%. Owens Corning’s dividend payout ratio is -47.81%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OC. Royal Bank Of Canada increased their price objective on Owens Corning from $134.00 to $148.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. UBS Group increased their price target on Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings downgraded Owens Corning from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. boosted their price target on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.82.

Insider Buying and Selling at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction dated 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 owned 15,848 shares of the company’s stock, valued at approximately $1,913,012.08. This represents a 4.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president directly owned 3,093 shares of the company’s stock, valued at approximately $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.92% of the stock is currently owned by company insiders.

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.