Oddo BHF Asset Management Sas Invests $410,000 in Owens Corning Inc $OC

Oddo BHF Asset Management Sas acquired a new stake in Owens Corning Inc (NYSE:OC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,786 shares of the construction company’s stock, valued at approximately $410,000.

Other institutional investors also recently bought and sold shares of the company. Bull Harbor Capital LLC acquired a new position in Owens Corning during the 1st quarter valued at approximately $521,000. South Dakota Investment Council lifted its stake in shares of Owens Corning by 1.3% during the first quarter. South Dakota Investment Council now owns 48,865 shares of the construction company’s stock worth $5,288,000 after buying an additional 637 shares during the period. Amundi lifted its stake in shares of Owens Corning by 28.4% during the first quarter. Amundi now owns 288,809 shares of the construction company’s stock worth $31,256,000 after buying an additional 63,793 shares during the period. Gould Capital LLC grew its holdings in shares of Owens Corning by 87.9% during the first quarter. Gould Capital LLC now owns 449 shares of the construction company’s stock valued at $49,000 after buying an additional 210 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Owens Corning by 108.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,016 shares of the construction company’s stock valued at $218,000 after buying an additional 1,047 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the 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 of the company’s stock, valued at approximately $1,913,012.08. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $120.92, for a total transaction of $232,891.92. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.92% of the company’s stock.

Owens Corning Stock Up 2.0%

Owens Corning stock opened at $139.10 on Friday. The business’s 50-day moving average price is $133.51 and its 200 day moving average price is $124.13. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27. The firm has a market cap of $11.20 billion, a price-to-earnings ratio of -21.04, a price-to-earnings-growth ratio of 2.65 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the company posted $2.97 earnings per share. Owens Corning’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Owens Corning Inc will post 9.55 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 20th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, July 20th. Owens Corning’s payout ratio is currently -47.81%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Zacks Research upgraded Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. boosted their price target on Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Wells Fargo & Company increased their price objective on Owens Corning from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Royal Bank Of Canada raised their price objective on Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Finally, Weiss Ratings raised Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. One 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.92.

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.