State of Wyoming Has $975,000 Holdings in Owens Corning Inc $OC

State of Wyoming raised its position in shares of Owens Corning Inc (NYSE:OC) by 82.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,010 shares of the construction company’s stock after acquiring an additional 4,077 shares during the period. State of Wyoming’s holdings in Owens Corning were worth $975,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Owens Corning by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 9,765,729 shares of the construction company’s stock valued at $1,092,883,000 after purchasing an additional 84,096 shares during the period. State Street Corp grew its holdings in Owens Corning by 2.3% in the 3rd quarter. State Street Corp now owns 3,634,987 shares of the construction company’s stock valued at $514,205,000 after buying an additional 81,133 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Owens Corning by 7.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,764,616 shares of the construction company’s stock worth $299,167,000 after buying an additional 188,211 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Owens Corning by 9.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,594,229 shares of the construction company’s stock worth $290,321,000 after buying an additional 231,871 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Owens Corning by 22.7% during the first quarter. First Trust Advisors LP now owns 2,179,214 shares of the construction company’s stock worth $235,835,000 after buying an additional 403,803 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 0.1%

Shares of NYSE OC opened at $139.99 on Thursday. The stock has a market capitalization of $11.27 billion, a P/E ratio of -21.18, a PEG ratio of 2.72 and a beta of 1.30. The stock’s fifty day moving average is $130.33 and its 200 day moving average is $123.08. Owens Corning Inc has a 52 week low of $97.53 and a 52 week high of $159.91. 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 (NYSE:OC) last posted its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.21. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. Owens Corning’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.97 earnings per share. Sell-side analysts forecast that Owens Corning Inc will post 9.55 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently commented on OC. JPMorgan Chase & Co. upped their price target on shares of Owens Corning from $115.00 to $121.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Bank of America dropped their price objective on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Barclays boosted their price objective on shares of Owens Corning from $144.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Truist Financial raised their target price on shares of Owens Corning from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Owens Corning from $136.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $157.50.

Insider Buying and Selling

In related news, insider Rachel Barthelemy Marcon sold 700 shares of Owens Corning stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total value of $84,497.00. Following the transaction, the insider directly owned 15,848 shares of the company’s stock, valued at $1,913,012.08. This trade represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $232,891.92. Following the sale, the vice president owned 3,093 shares of the company’s stock, valued at $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.