Parcion Private Wealth LLC Purchases New Holdings in Owens Corning Inc $OC

Parcion Private Wealth LLC purchased a new stake in Owens Corning Inc (NYSE:OC) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,406 shares of the construction company’s stock, valued at approximately $631,000.

Other institutional investors have also recently made changes to their positions in the company. Basecamp Wealth Advisors LLC raised its stake in shares of Owens Corning by 3.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 3,317 shares of the construction company’s stock worth $359,000 after purchasing an additional 97 shares in the last quarter. HM Payson & Co. boosted its holdings in shares of Owens Corning by 203.6% in the 2nd quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock valued at $27,000 after buying an additional 112 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of Owens Corning by 26.9% in the third quarter. V Square Quantitative Management LLC now owns 556 shares of the construction company’s stock valued at $65,000 after buying an additional 118 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Owens Corning by 13.8% in the second quarter. Versant Capital Management Inc now owns 1,017 shares of the construction company’s stock valued at $162,000 after buying an additional 123 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Owens Corning by 15.9% in the third quarter. Signaturefd LLC now owns 1,070 shares of the construction company’s stock valued at $125,000 after buying an additional 147 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OC shares. Melius Research initiated coverage on shares of Owens Corning in a report on Tuesday, October 6th. They set a “sell” rating and a $118.00 target price on the stock. Truist Financial cut their price target on shares of Owens Corning from $140.00 to $115.00 and set a “hold” rating for the company in a research note on Thursday, October 8th. Zacks Research downgraded shares of Owens Corning from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 12th. Evercore set a $185.00 price objective on shares of Owens Corning in a research note on Thursday, October 1st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research note on Monday, September 21st. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Owens Corning presently has an average rating of “Hold” and an average target price of $142.07.

Owens Corning Stock Performance

Shares of NYSE OC opened at $120.91 on Monday. 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 company has a market capitalization of $9.56 billion, a P/E ratio of -15.00, a P/E/G ratio of 3.57 and a beta of 1.31. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.91. The stock has a 50 day moving average of $124.27 and a 200-day moving average of $126.13.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the business earned $4.21 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities research analysts predict that Owens Corning Inc will post 9.39 EPS for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, October 19th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, October 19th. Owens Corning’s dividend payout ratio (DPR) is currently -39.21%.

Insider Activity

In related news, insider Rachel Barthelemy Marcon sold 900 shares of Owens Corning stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $144.07, for a total transaction of $129,663.00. Following the completion of the sale, the insider owned 21,449 shares of the company’s stock, valued at approximately $3,090,157.43. The trade was a 4.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company’s stock.

Owens Corning Profile

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its offerings are designed to improve energy efficiency, weather protection, durability and comfort in buildings.

The company’s primary businesses include roofing, insulation and doors. Its products include asphalt roofing shingles and components, fiberglass and mineral wool insulation, and residential and commercial door systems.