Y Intercept Hong Kong Ltd Sells 29,519 Shares of Owens Corning Inc $OC

Y Intercept Hong Kong Ltd lessened its stake in shares of Owens Corning Inc (NYSE:OC) by 51.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,481 shares of the construction company’s stock after selling 29,519 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Owens Corning were worth $2,974,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in Owens Corning in the fourth quarter worth $29,000. Harbour Investments Inc. increased its holdings 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 valued at $36,000 after acquiring an additional 129 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Owens Corning in the 4th quarter worth about $37,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Owens Corning in the 3rd quarter worth about $42,000. Finally, Global Retirement Partners LLC boosted its stake in Owens Corning by 1,173.3% in the 4th quarter. Global Retirement Partners LLC now owns 382 shares of the construction company’s stock worth $43,000 after purchasing an additional 352 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In related news, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the completion of the sale, the vice president owned 3,093 shares in the company, valued at approximately $374,005.56. This represents a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rachel Barthelemy Marcon sold 700 shares of the 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 transaction, the insider directly owned 15,848 shares in the company, valued at approximately $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 Price Performance

OC opened at $142.36 on Wednesday. The company’s 50-day simple moving average is $126.01 and its two-hundred day simple moving average is $120.90. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. The stock has a market capitalization of $11.46 billion, a P/E ratio of -21.54, a P/E/G ratio of 2.66 and a beta of 1.30. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.91.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates 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 firm 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 earnings per share. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, analysts predict 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 dividend of $0.79 per share. The ex-dividend date is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a yield of 2.2%. Owens Corning’s payout ratio is currently -47.81%.

Wall Street Analysts Forecast Growth

OC has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Truist Financial increased their price target on shares of Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Royal Bank Of Canada boosted their price objective on shares of Owens Corning from $134.00 to $148.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Wells Fargo & Company upped their price objective on Owens Corning from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.58.

About Owens Corning

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.