28,798 Shares in Owens Corning Inc $OC Acquired by Cibc World Market Inc.

Cibc World Market Inc. bought a new position in Owens Corning Inc (NYSE:OC) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 28,798 shares of the construction company’s stock, valued at approximately $4,578,000.

Several other large investors have also recently made changes to their positions in OC. HM Payson & Co. grew its holdings in shares of Owens Corning by 203.6% during the 2nd quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock valued at $27,000 after purchasing an additional 112 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Owens Corning in the 4th quarter worth $29,000. Cassaday & Co Wealth Management LLC bought a new stake in Owens Corning in the first quarter worth $30,000. Harbour Investments Inc. boosted its position in Owens Corning by 66.5% during the fourth quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock valued at $36,000 after buying an additional 129 shares during the period. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Owens Corning during the third quarter valued at about $42,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OC has been the topic of several analyst reports. Royal Bank Of Canada lifted their price objective on Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. Wells Fargo & Company increased their target price on Owens Corning from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings raised Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. The Goldman Sachs Group boosted their price objective on Owens Corning from $141.00 to $159.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Finally, Evercore reissued an “outperform” rating and set a $193.00 price objective on shares of Owens Corning in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $165.31.

Owens Corning Stock Down 0.3%

NYSE OC opened at $146.57 on Wednesday. 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 $11.59 billion, a PE ratio of -18.19, a PEG ratio of 2.21 and a beta of 1.32. 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 moving average is $144.10 and its 200 day moving average is $127.58.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, topping 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 quarter last year, the business posted $4.21 EPS. The business’s revenue was up .3% on a year-over-year basis. Sell-side analysts forecast that Owens Corning Inc will post 9.9 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, July 20th were issued a $0.79 dividend. The ex-dividend date was Monday, July 20th. This represents a $3.16 annualized dividend and a yield of 2.2%. Owens Corning’s payout ratio is -39.21%.

Insider Buying and Selling

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the completion of the sale, the insider directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.92% of the company’s stock.

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.