Vise Technologies Inc. Invests $1.52 Million in Owens Corning Inc $OC

Vise Technologies Inc. acquired a new position in Owens Corning Inc (NYSE:OC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,540 shares of the construction company’s stock, valued at approximately $1,516,000.

Other hedge funds also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. purchased a new position in Owens Corning in the second quarter worth about $20,665,000. West Family Investments Inc. purchased a new stake in shares of Owens Corning during the 2nd quarter valued at about $594,000. Dala Group LLC purchased a new stake in shares of Owens Corning during the 2nd quarter valued at about $1,617,000. Great Lakes Advisors LLC bought a new position in shares of Owens Corning in the 2nd quarter worth approximately $4,225,000. Finally, Diversify Advisory Services LLC bought a new position in shares of Owens Corning in the 2nd quarter worth approximately $499,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Up 0.5%

Shares of NYSE:OC opened at $147.92 on Friday. The stock has a 50 day moving average of $143.26 and a 200 day moving average of $127.29. The company has a market cap of $11.69 billion, a PE ratio of -18.35, a price-to-earnings-growth ratio of 2.23 and a beta of 1.32. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.91.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.84. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the business earned $4.21 EPS. The firm’s revenue was up .3% compared to the same quarter last year. As a group, equities research analysts expect that Owens Corning Inc will post 9.9 EPS for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 20th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, July 20th. Owens Corning’s dividend payout ratio (DPR) is presently -39.21%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OC shares. Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Wednesday, July 15th. Citigroup increased their price target on shares of Owens Corning from $149.00 to $177.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Weiss Ratings upgraded Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. Finally, Truist Financial set a $198.00 target price on Owens Corning in a report on Thursday, August 6th. One equities 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 assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.25.

Insider Activity at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the transaction, the insider owned 15,848 shares in the company, valued at approximately $1,913,012.08. The trade was a 4.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by insiders.

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.