Paradiem LLC Sells 58,221 Shares of Owens Corning Inc $OC

Paradiem LLC cut its position in shares of Owens Corning Inc (NYSE:OC) by 61.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,846 shares of the construction company’s stock after selling 58,221 shares during the quarter. Owens Corning accounts for 1.0% of Paradiem LLC’s portfolio, making the stock its 28th biggest holding. Paradiem LLC’s holdings in Owens Corning were worth $4,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC acquired a new position in Owens Corning in the 2nd quarter valued at approximately $26,000. Rexford Capital Inc. acquired a new stake in shares of Owens Corning during the 2nd quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Owens Corning during the second quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of Owens Corning by 149.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock valued at $31,000 after purchasing an additional 133 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in Owens Corning in the third quarter worth $39,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Performance

NYSE:OC opened at $103.36 on Friday. The stock has a market capitalization of $8.31 billion, a P/E ratio of -16.15, a price-to-earnings-growth ratio of 1.75 and a beta of 1.35. The company has a current ratio of 1.26, a quick ratio of 0.70 and a debt-to-equity ratio of 1.20. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.42. The firm has a 50 day moving average of $122.26 and a 200-day moving average of $123.57.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The company’s revenue for the quarter was down 16.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.22 earnings per share. As a group, sell-side analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Monday, March 9th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a yield of 3.1%. Owens Corning’s dividend payout ratio is currently -49.38%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Citigroup cut their price target on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Evercore lowered their price objective on Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a research note on Thursday, December 4th. Argus upgraded Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Finally, UBS Group upped their price target on Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.58.

Owens Corning Company 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.