Illinois Municipal Retirement Fund Reduces Holdings in Owens Corning Inc $OC

Illinois Municipal Retirement Fund lowered its position in Owens Corning Inc (NYSE:OC) by 11.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,080 shares of the construction company’s stock after selling 2,629 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Owens Corning were worth $2,899,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OC. Vanguard Group Inc. grew its holdings in Owens Corning by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 9,815,685 shares of the construction company’s stock valued at $1,401,876,000 after purchasing an additional 1,053,855 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Owens Corning by 67.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,380,123 shares of the construction company’s stock valued at $339,930,000 after buying an additional 957,295 shares during the period. Nordea Investment Management AB grew its stake in shares of Owens Corning by 0.7% during the second quarter. Nordea Investment Management AB now owns 2,225,800 shares of the construction company’s stock valued at $305,291,000 after buying an additional 15,927 shares during the last quarter. LSV Asset Management raised its holdings in shares of Owens Corning by 1.9% in the first quarter. LSV Asset Management now owns 1,476,067 shares of the construction company’s stock worth $210,812,000 after buying an additional 27,185 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Owens Corning by 179.0% during the 1st quarter. Millennium Management LLC now owns 863,230 shares of the construction company’s stock worth $123,287,000 after acquiring an additional 553,864 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays dropped their price objective on Owens Corning from $173.00 to $131.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. UBS Group lowered their target price on shares of Owens Corning from $210.00 to $179.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Evercore ISI set a $121.00 price target on shares of Owens Corning in a research note on Thursday, November 6th. JPMorgan Chase & Co. lowered their price objective on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Jefferies Financial Group dropped their target price on shares of Owens Corning from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $157.67.

Owens Corning Stock Down 0.6%

NYSE:OC opened at $102.50 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. Owens Corning Inc has a 1-year low of $102.16 and a 1-year high of $214.53. The company has a 50-day moving average of $132.54 and a 200 day moving average of $138.86. The firm has a market cap of $8.42 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 9.10 and a beta of 1.31.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.64 by $0.03. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the previous year, the business posted $4.38 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Owens Corning has set its Q4 2025 guidance at EPS. As a group, research analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Monday, October 20th were issued a dividend of $0.69 per share. The ex-dividend date was Monday, October 20th. This represents a $2.76 dividend on an annualized basis and a yield of 2.7%. Owens Corning’s dividend payout ratio is currently -48.25%.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.