28,331 Shares in Owens Corning Inc $OC Purchased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC purchased a new position in shares of Owens Corning Inc (NYSE:OC) in the 2nd quarter, Holdings Channel reports. The firm purchased 28,331 shares of the construction company’s stock, valued at approximately $4,503,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in Owens Corning by 178.2% during the fourth quarter. BNP Paribas Financial Markets now owns 186,652 shares of the construction company’s stock valued at $20,888,000 after buying an additional 119,566 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Owens Corning in the 1st quarter valued at $2,576,000. Raiffeisen Bank International AG lifted its holdings in shares of Owens Corning by 12.4% during the 4th quarter. Raiffeisen Bank International AG now owns 353,302 shares of the construction company’s stock valued at $39,976,000 after acquiring an additional 38,885 shares in the last quarter. Systematic Financial Management LP lifted its holdings in shares of Owens Corning by 10.8% during the 4th quarter. Systematic Financial Management LP now owns 244,437 shares of the construction company’s stock valued at $27,355,000 after acquiring an additional 23,873 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Owens Corning by 1,243.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 39,134 shares of the construction company’s stock worth $4,379,000 after purchasing an additional 36,222 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the transaction, the insider directly owned 15,848 shares in the company, valued at approximately $1,913,012.08. This trade represents a 4.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.92% of the company’s stock.

Owens Corning Stock Down 0.6%

NYSE:OC opened at $147.13 on Tuesday. The stock has a 50-day simple moving average of $143.74 and a 200 day simple moving average of $127.48. Owens Corning Inc has a one year low of $97.53 and a one year high of $159.91. The company has a market capitalization of $11.63 billion, a price-to-earnings ratio of -18.25, a price-to-earnings-growth ratio of 2.23 and a beta of 1.32. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 1.16.

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

Owens Corning Dividend Announcement

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

Wall Street Analyst Weigh In

OC has been the topic of several research reports. Truist Financial set a $198.00 price objective on Owens Corning in a research report on Thursday, August 6th. 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. Wells Fargo & Company raised 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. DA Davidson set a $190.00 price target on Owens Corning in a research note on Monday. Finally, The Goldman Sachs Group increased their price target on Owens Corning from $141.00 to $159.00 and gave the company a “neutral” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.31.

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.