Curated Wealth Partners LLC Purchases 4,952 Shares of Owens Corning Inc $OC

Curated Wealth Partners LLC bought a new position in Owens Corning Inc (NYSE:OC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,952 shares of the construction company’s stock, valued at approximately $578,000.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Owens Corning in the second quarter worth $1,401,161,000. Dimensional Fund Advisors LP raised its holdings in Owens Corning by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,764,616 shares of the construction company’s stock worth $299,167,000 after purchasing an additional 188,211 shares during the last quarter. First Trust Advisors LP boosted its position in Owens Corning by 22.7% during the first quarter. First Trust Advisors LP now owns 2,179,214 shares of the construction company’s stock worth $235,835,000 after purchasing an additional 403,803 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Owens Corning by 721.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,170,179 shares of the construction company’s stock worth $125,513,000 after buying an additional 1,027,800 shares in the last quarter. Finally, Nykredit A S acquired a new stake in Owens Corning in the 2nd quarter valued at about $166,083,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup increased their target price on Owens Corning from $149.00 to $177.00 and gave the company a “buy” rating in a report on Friday, August 7th. Wall Street Zen cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a report on Monday, September 21st. Melius Research assumed coverage on shares of Owens Corning in a research report on Tuesday, October 6th. They issued a “sell” rating and a $118.00 price objective for the company. Finally, DA Davidson set a $143.00 price objective on shares of Owens Corning in a research note on Friday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $141.57.

Insiders Place Their Bets

In other news, insider Rachel Barthelemy Marcon sold 900 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $144.07, for a total value of $129,663.00. Following the completion of the transaction, the insider directly owned 21,449 shares in the company, valued at approximately $3,090,157.43. This represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by corporate insiders.

Owens Corning Stock Performance

NYSE OC opened at $112.79 on Friday. The firm has a market capitalization of $8.92 billion, a P/E ratio of -13.99, a P/E/G ratio of 2.63 and a beta of 1.32. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.91. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.16 and a quick ratio of 0.67. The business’s 50-day simple moving average is $131.60 and its 200-day simple moving average is $129.17.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, August 5th. The construction company reported $3.93 EPS for the quarter, beating the consensus estimate of $3.09 by $0.84. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm posted $4.21 earnings per share. Owens Corning’s revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts predict that Owens Corning Inc will post 9.59 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Monday, October 19th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, October 19th. This represents a $3.16 annualized dividend and a yield of 2.8%. Owens Corning’s payout ratio is -39.21%.

Owens Corning Company Profile

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its portfolio includes insulation, roofing and composite materials designed to improve energy efficiency, weather protection, durability and structural performance.

The company’s insulation business offers products such as fiberglass and mineral wool insulation, along with related air-sealing and acoustic solutions. Its roofing operations produce shingles, underlayment and other components for residential and commercial roofing systems.