Rockefeller Capital Management L.P. Reduces Position in Owens Corning Inc $OC

Rockefeller Capital Management L.P. decreased its holdings in Owens Corning Inc (NYSE:OC) by 94.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,971 shares of the construction company’s stock after selling 31,145 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Owens Corning were worth $221,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Groupama Asset Managment grew its stake in Owens Corning by 1.8% during the 4th 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 in the last quarter. River Road Asset Management LLC raised its position in shares of Owens Corning by 3.0% in the 4th quarter. River Road Asset Management LLC now owns 348,116 shares of the construction company’s stock valued at $38,958,000 after purchasing an additional 10,193 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Owens Corning by 200.5% during the 4th quarter. Pacer Advisors Inc. now owns 381,887 shares of the construction company’s stock valued at $42,737,000 after buying an additional 254,793 shares during the last quarter. Kera Capital Partners Inc. grew its position in shares of Owens Corning by 18.7% during the fourth quarter. Kera Capital Partners Inc. now owns 3,164 shares of the construction company’s stock worth $379,000 after buying an additional 499 shares in the last quarter. Finally, Virtu Financial LLC grew its position in shares of Owens Corning by 18.4% during the fourth quarter. Virtu Financial LLC now owns 3,286 shares of the construction company’s stock worth $368,000 after buying an additional 511 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

OC has been the topic of several recent analyst reports. Bank of America cut their price target on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Weiss Ratings raised shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Truist Financial increased their price target on shares of Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lifted their price target on Owens Corning from $115.00 to $121.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.58.

Owens Corning Stock Down 3.2%

Shares of NYSE:OC opened at $137.70 on Thursday. The company’s fifty day moving average is $126.25 and its two-hundred day moving average is $121.05. 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 1-year low of $97.53 and a 1-year high of $159.91. The stock has a market capitalization of $11.09 billion, a price-to-earnings ratio of -20.83, a price-to-earnings-growth ratio of 2.58 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 the consensus estimate 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 business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the business posted $2.97 EPS. The company’s quarterly revenue was down 10.5% on a year-over-year basis. Equities analysts anticipate that Owens Corning Inc will post 9.53 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently announced 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. This represents a $3.16 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, July 20th. Owens Corning’s payout ratio is presently -47.81%.

Insider Activity at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction that occurred on 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 approximately $1,913,012.08. This trade represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the business’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 transaction, the vice president owned 3,093 shares of the company’s stock, valued at $374,005.56. This represents a 38.37% decrease in their position. The SEC filing for this sale provides additional information. 0.92% of the stock is currently owned by corporate insiders.

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.