Manning & Napier Advisors LLC Purchases 3,753 Shares of Owens Corning Inc $OC

Manning & Napier Advisors LLC lifted its position in Owens Corning Inc (NYSE:OC) by 15.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,334 shares of the construction company’s stock after buying an additional 3,753 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Owens Corning were worth $3,066,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of OC. Itau Unibanco Holding S.A. bought a new stake in Owens Corning during the 4th quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC acquired a new position in Owens Corning during the 3rd quarter valued at $42,000. Harbour Investments Inc. boosted its holdings in Owens Corning by 66.5% in the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock valued at $36,000 after purchasing an additional 129 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Owens Corning in the 4th quarter valued at $37,000. Finally, Global Retirement Partners LLC grew its position in Owens Corning by 1,173.3% in the 4th quarter. Global Retirement Partners LLC now owns 382 shares of the construction company’s stock worth $43,000 after purchasing an additional 352 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Owens Corning

In related news, VP Mari Doerfler sold 1,926 shares of the business’s stock in a transaction 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 sale, the vice president owned 3,093 shares of the company’s stock, valued at $374,005.56. The trade was a 38.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the insider owned 15,848 shares in the company, valued at $1,913,012.08. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by insiders.

Analysts Set New Price Targets

OC has been the topic of several research reports. The Goldman Sachs Group boosted their price objective on shares of Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a report on Friday. Barclays lifted their target price on Owens Corning from $135.00 to $144.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Wells Fargo & Company boosted their price target on Owens Corning from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Weiss Ratings raised Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Finally, Bank of America decreased their price objective on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.08.

Owens Corning Price Performance

NYSE OC traded up $3.01 on Friday, reaching $143.27. The company’s stock had a trading volume of 812,035 shares, compared to its average volume of 1,371,610. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.91. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The firm has a market cap of $11.54 billion, a PE ratio of -21.67, a price-to-earnings-growth ratio of 2.60 and a beta of 1.30. The business has a 50-day moving average price of $127.01 and a 200 day moving average price of $121.39.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the company earned $2.97 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Sell-side analysts expect that Owens Corning Inc will post 9.53 EPS for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, July 20th. Owens Corning’s dividend payout ratio (DPR) is -47.81%.

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.