Sei Investments Co. Purchases 121,902 Shares of Owens Corning Inc $OC

Sei Investments Co. raised its position in Owens Corning Inc (NYSE:OC) by 205.6% in the 1st quarter, Holdings Channel reports. The firm owned 181,184 shares of the construction company’s stock after buying an additional 121,902 shares during the quarter. Sei Investments Co.’s holdings in Owens Corning were worth $19,607,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Owens Corning in the 4th quarter valued at about $29,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Owens Corning in the first quarter worth approximately $30,000. Measured Wealth Private Client Group LLC bought a new position in shares of Owens Corning in the third quarter worth approximately $42,000. Harbour Investments Inc. raised its stake in Owens Corning by 66.5% in the fourth quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock valued at $36,000 after purchasing an additional 129 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Owens Corning during the fourth quarter valued at approximately $37,000. Institutional investors own 88.40% of the company’s stock.

Insider Transactions at Owens Corning

In related news, VP Mari Doerfler sold 1,926 shares of the firm’s stock in a transaction dated 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 directly owned 3,093 shares of the company’s stock, valued at $374,005.56. This trade represents a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Rachel Barthelemy Marcon sold 700 shares of the business’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 owned 15,848 shares in the company, valued at approximately $1,913,012.08. This represents a 4.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

OC has been the subject of a number of research reports. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Wednesday, July 15th. Weiss Ratings raised shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Bank of America cut their target price on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Royal Bank Of Canada raised their price target on Owens Corning from $148.00 to $172.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus price target of $157.92.

Owens Corning Stock Down 4.7%

Shares of Owens Corning stock opened at $136.38 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.91. The company’s 50 day moving average price is $133.05 and its 200-day moving average price is $124.01. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of -20.63, a P/E/G ratio of 2.78 and a beta of 1.30.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.21. The company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.18 billion. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.97 EPS. Equities research analysts forecast that Owens Corning Inc will post 9.55 EPS for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 20th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, July 20th. Owens Corning’s dividend payout ratio is currently -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.