Skylands Capital LLC Sells 7,275 Shares of Owens Corning Inc $OC

Skylands Capital LLC reduced its holdings in Owens Corning Inc (NYSE:OC) by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 130,745 shares of the construction company’s stock after selling 7,275 shares during the period. Owens Corning makes up about 1.9% of Skylands Capital LLC’s investment portfolio, making the stock its 13th biggest position. Skylands Capital LLC owned approximately 0.16% of Owens Corning worth $14,149,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Pitcairn Co. raised its position in shares of Owens Corning by 4.6% during the 2nd quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock valued at $250,000 after acquiring an additional 80 shares during the last quarter. Viawealth LLC boosted its position in shares of Owens Corning by 3.6% in the 4th quarter. Viawealth LLC now owns 2,563 shares of the construction company’s stock worth $287,000 after purchasing an additional 88 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of Owens Corning by 2.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,170 shares of the construction company’s stock worth $343,000 after purchasing an additional 90 shares during the period. Pallas Capital Advisors LLC grew its stake in shares of Owens Corning by 2.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,997 shares of the construction company’s stock worth $447,000 after purchasing an additional 104 shares during the period. Finally, Groupama Asset Managment increased its holdings in Owens Corning by 1.8% in the fourth quarter. Groupama Asset Managment now owns 6,153 shares of the construction company’s stock valued at $689,000 after purchasing an additional 106 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America cut their target price on Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research note 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. JPMorgan Chase & Co. increased their price target on shares of Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Evercore set a $139.00 price objective on shares of Owens Corning in a research note on Thursday, May 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Owens Corning from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.82.

Insider Activity at Owens Corning

In other news, VP Mari Doerfler sold 1,926 shares of the company’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 value of $232,891.92. Following the completion of the transaction, the vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rachel Barthelemy Marcon sold 700 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the sale, the insider directly owned 15,848 shares of the company’s stock, valued at $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. 0.92% of the stock is owned by corporate insiders.

Owens Corning Stock Down 0.7%

Shares of Owens Corning stock opened at $135.28 on Friday. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.42. The business has a 50-day moving average of $122.08 and a two-hundred day moving average of $119.05. The company has a market capitalization of $10.89 billion, a P/E ratio of -20.47, a price-to-earnings-growth ratio of 2.46 and a beta of 1.34. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.24 and a quick ratio of 0.74.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the business posted $2.97 EPS. Owens Corning’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities analysts predict that Owens Corning Inc will post 9.53 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Monday, July 20th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a yield of 2.3%. Owens Corning’s payout ratio is presently -47.81%.

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.