River Road Asset Management LLC Trims Stock Position in Owens Corning Inc $OC

River Road Asset Management LLC lessened its stake in Owens Corning Inc (NYSE:OC) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,103 shares of the construction company’s stock after selling 18,305 shares during the period. River Road Asset Management LLC’s holdings in Owens Corning were worth $54,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds 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 acquired a new stake in shares of Owens Corning in the first quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Owens Corning in the third quarter valued at approximately $42,000. Harbour Investments Inc. grew its position in shares of Owens Corning by 66.5% during the fourth quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after acquiring an additional 129 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Owens Corning in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OC. Wall Street Zen upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Barclays lifted their price objective on shares of Owens Corning from $170.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Owens Corning from $136.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.25.

Insider Activity at Owens Corning

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were 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 in the company, valued at approximately $1,913,012.08. The trade was a 4.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.92% of the company’s stock.

Owens Corning Stock Performance

NYSE OC opened at $155.44 on Thursday. The stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of -19.29, a PEG ratio of 2.76 and a beta of 1.32. The business’s 50 day moving average is $138.83 and its two-hundred day moving average is $125.84. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.91. The company has a current ratio of 1.16, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10.

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 positive return on equity of 20.52% and a negative net margin of 6.81%.The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the firm earned $4.21 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. Research analysts expect that Owens Corning Inc will post 9.65 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 20th were issued a $0.79 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a yield of 2.0%. Owens Corning’s dividend payout ratio (DPR) is -39.21%.

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.