OMERS ADMINISTRATION Corp Has $1.41 Million Stock Holdings in Owens Corning Inc $OC

OMERS ADMINISTRATION Corp lifted its position in Owens Corning Inc (NYSE:OC) by 252.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 12,985 shares of the construction company’s stock after purchasing an additional 9,300 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Owens Corning were worth $1,405,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in Owens Corning during the 4th quarter worth $29,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Owens Corning in the first quarter worth about $30,000. Harbour Investments Inc. lifted its position in shares of Owens Corning by 66.5% during the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after purchasing an additional 129 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Owens Corning during the 4th quarter worth about $37,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in Owens Corning during the 3rd quarter valued at approximately $42,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

OC opened at $136.38 on Thursday. The stock’s 50 day simple moving average is $133.05 and its 200-day simple moving average is $124.01. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The stock has a market cap of $10.98 billion, a PE ratio of -20.63, a P/E/G ratio of 2.78 and a beta of 1.30. Owens Corning Inc has a 1 year low of $97.53 and a 1 year high of $159.91.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the business earned $2.97 earnings per share. Owens Corning’s quarterly revenue was down 10.5% compared to the same quarter last year. Sell-side analysts forecast that Owens Corning Inc will post 9.55 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 20th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Owens Corning’s dividend payout ratio (DPR) is presently -47.81%.

Insider Activity

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total value of $84,497.00. Following the sale, 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. The transaction was disclosed in a document filed with the SEC, which is accessible 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 firm’s stock in a transaction that occurred 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 transaction, the vice president owned 3,093 shares of the company’s stock, valued at $374,005.56. This trade represents a 38.37% decrease in their position. The SEC filing for this sale provides additional information. 0.92% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings raised Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Wednesday, July 15th. Evercore reaffirmed an “outperform” rating and set a $193.00 target price on shares of Owens Corning in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft increased their price target 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. Finally, Bank of America decreased their price target on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.92.

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.