114,687 Shares in Owens Corning Inc $OC Purchased by Ieq Capital LLC

Ieq Capital LLC bought a new position in shares of Owens Corning Inc (NYSE:OC) during the 2nd quarter, HoldingsChannel reports. The firm bought 114,687 shares of the construction company’s stock, valued at approximately $18,231,000.

Several other large investors have also modified their holdings of OC. Callan Family Office LLC bought a new position in shares of Owens Corning during the second quarter valued at approximately $201,000. Paralel Advisors LLC purchased a new position in Owens Corning during the second quarter valued at approximately $3,393,000. Allworth Financial LP bought a new position in Owens Corning in the second quarter worth approximately $734,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in Owens Corning during the second quarter worth $661,000. Finally, Advisors Capital Management LLC bought a new stake in Owens Corning during the 2nd quarter valued at $8,474,000. Institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OC. JPMorgan Chase & Co. lifted 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 upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Royal Bank Of Canada raised their price objective on Owens Corning from $148.00 to $172.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Wells Fargo & Company lifted their target price on Owens Corning from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Evercore reissued an “outperform” rating and set a $193.00 price target on shares of Owens Corning in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and an average target price of $163.25.

Owens Corning Stock Performance

OC opened at $147.92 on Friday. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.91. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $11.69 billion, a PE ratio of -18.35, a P/E/G ratio of 2.23 and a beta of 1.32. The firm has a 50 day moving average of $143.26 and a two-hundred day moving average of $127.29.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating the consensus estimate of $3.09 by $0.84. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $4.21 EPS. On average, analysts anticipate that Owens Corning Inc will post 9.9 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, July 20th were given a dividend of $0.79 per share. The ex-dividend date was Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a yield of 2.1%. Owens Corning’s payout ratio is currently -39.21%.

Insider Buying and Selling

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the sale, the insider directly owned 15,848 shares of the company’s stock, valued at approximately $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Insiders own 0.92% of the company’s stock.

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.