Candriam S.C.A. Purchases 9,417 Shares of Owens Corning Inc $OC

Candriam S.C.A. boosted its position in Owens Corning Inc (NYSE:OC) by 14.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,662 shares of the construction company’s stock after buying an additional 9,417 shares during the quarter. Candriam S.C.A.’s holdings in Owens Corning were worth $8,188,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its position in Owens Corning by 460.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company’s stock worth $146,940,000 after acquiring an additional 1,078,877 shares during the last quarter. Norges Bank acquired a new stake in shares of Owens Corning in the fourth quarter valued at about $119,748,000. Gendell Jeffrey L grew its position in shares of Owens Corning by 349.3% in the fourth quarter. Gendell Jeffrey L now owns 922,063 shares of the construction company’s stock valued at $103,188,000 after purchasing an additional 716,839 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Owens Corning by 33.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,576,405 shares of the construction company’s stock worth $288,332,000 after purchasing an additional 645,773 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Owens Corning by 51.8% in the fourth quarter. First Trust Advisors LP now owns 1,775,411 shares of the construction company’s stock worth $198,686,000 after purchasing an additional 605,926 shares during the period. Institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays increased their target price on Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Evercore raised Owens Corning from an “in-line” rating to an “outperform” rating and set a $188.00 price target on the stock in a research report on Tuesday, June 30th. Bank of America cut their price target on Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a report on Monday, April 20th. Truist Financial increased their price objective on Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $154.08.

Owens Corning Stock Down 0.1%

Shares of OC opened at $143.27 on Monday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. The company has a 50-day simple moving average of $127.01 and a 200-day simple moving average of $121.44. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.91. The firm has a market capitalization of $11.54 billion, a P/E ratio of -21.67, a P/E/G ratio of 2.60 and a beta of 1.30.

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

Owens Corning Announces Dividend

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

Insider Buying and Selling

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the transaction, the insider directly owned 15,848 shares in the company, valued at approximately $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $120.92, for a total value of $232,891.92. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.92% of the stock is currently owned by company insiders.

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.