Inceptionr LLC Sells 3,659 Shares of Owens Corning Inc $OC

Inceptionr LLC trimmed its stake in Owens Corning Inc (NYSE:OC) by 52.0% in the first quarter, HoldingsChannel reports. The firm owned 3,382 shares of the construction company’s stock after selling 3,659 shares during the period. Inceptionr LLC’s holdings in Owens Corning were worth $366,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OC. Bank of Nova Scotia bought a new position in shares of Owens Corning during the 1st quarter worth about $1,319,000. Sei Investments Co. increased its position in Owens Corning by 205.6% in the 1st quarter. Sei Investments Co. now owns 181,184 shares of the construction company’s stock valued at $19,607,000 after buying an additional 121,902 shares in the last quarter. MWA Asset Management acquired a new position in Owens Corning during the 1st quarter worth approximately $264,000. Lido Advisors LLC raised its stake in Owens Corning by 15.7% during the 1st quarter. Lido Advisors LLC now owns 2,202 shares of the construction company’s stock worth $240,000 after buying an additional 298 shares during the period. Finally, State of Wyoming boosted its holdings in Owens Corning by 82.6% in the first quarter. State of Wyoming now owns 9,010 shares of the construction company’s stock worth $975,000 after acquiring an additional 4,077 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the sale, the insider owned 15,848 shares of the company’s stock, valued at $1,913,012.08. This trade represents a 4.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $120.92, for a total transaction of $232,891.92. Following the completion of the sale, the vice president directly owned 3,093 shares in the company, valued at $374,005.56. This represents a 38.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.92% of the stock is currently owned by company insiders.

Owens Corning Trading Up 0.1%

NYSE:OC opened at $142.41 on Monday. 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 stock has a market capitalization of $11.47 billion, a PE ratio of -21.55, a price-to-earnings-growth ratio of 2.76 and a beta of 1.30. The firm’s 50 day moving average is $131.26 and its 200 day moving average is $123.46. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.91.

Owens Corning (NYSE:OC) last issued 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 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 analyst estimates of $2.18 billion. During the same quarter last year, the business earned $2.97 earnings per share. The company’s quarterly revenue was down 10.5% on a year-over-year basis. Sell-side analysts expect that Owens Corning Inc will post 9.55 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis 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%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on OC shares. Barclays boosted their price objective on Owens Corning from $144.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Bank of America reduced their price objective on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a report on Monday, April 20th. Evercore restated an “outperform” rating and issued a $193.00 target price on shares of Owens Corning in a report on Thursday. Finally, Zacks Research raised shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.92.

Owens Corning Profile

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.