Intech Investment Management LLC Sells 9,189 Shares of Owens Corning Inc $OC
Intech Investment Management LLC reduced its stake in Owens Corning Inc by 25.1% in Q2, selling 9,189 shares. Owens Corning's stock opened at $99.01, with a 12-month low of $97.67 and high of $214.53. Analysts have mixed ratings, with a consensus "Hold" and price target of $157.67. The company reported Q3 earnings of $3.67 per share, slightly above estimates, with revenue down 2.9% year-over-year.
Intech Investment Management LLC trimmed its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 25.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,489 shares of the construction company's stock after selling 9,189 shares during the period. Intech Investment Management LLC's holdings in Owens Corning were worth $3,780,000 at the end of the most recent quarter.
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Several other large investors have also recently added to or reduced their stakes in OC. Nordea Investment Management AB boosted its stake in Owens Corning by 0.7% during the second quarter. Nordea Investment Management AB now owns 2,225,800 shares of the construction company's stock worth $305,291,000 after buying an additional 15,927 shares in the last quarter. Aviva PLC lifted its holdings in shares of Owens Corning by 7.2% during the 2nd quarter. Aviva PLC now owns 60,634 shares of the construction company's stock worth $8,338,000 after acquiring an additional 4,091 shares during the period. Financial Partners Group LLC boosted its position in shares of Owens Corning by 23.2% during the 2nd quarter. Financial Partners Group LLC now owns 11,994 shares of the construction company's stock valued at $1,649,000 after acquiring an additional 2,259 shares in the last quarter. Fox Run Management L.L.C. boosted its position in shares of Owens Corning by 307.6% during the 2nd quarter. Fox Run Management L.L.C. now owns 6,428 shares of the construction company's stock valued at $884,000 after acquiring an additional 4,851 shares in the last quarter. Finally, Cincinnati Financial Corp increased its stake in Owens Corning by 94.3% in the second quarter. Cincinnati Financial Corp now owns 171,000 shares of the construction company's stock valued at $23,516,000 after acquiring an additional 83,000 shares during the period. Institutional investors and hedge funds own 88.40% of the company's stock.
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Analyst Ratings Changes
OC has been the topic of a number of recent research reports. Truist Financial decreased their price objective on Owens Corning from $165.00 to $135.00 and set a "hold" rating on the stock in a report on Thursday, October 9th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Owens Corning in a research note on Thursday, November 13th. Barclays dropped their price objective on Owens Corning from $173.00 to $131.00 and set an "overweight" rating for the company in a research note on Thursday, November 6th. Evercore ISI set a $121.00 target price on shares of Owens Corning in a research note on Thursday, November 6th. Finally, Vertical Research began coverage on shares of Owens Corning in a research report on Monday, October 20th. They set a "hold" rating for the company. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $157.67.
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Owens Corning Stock Down 0.1%
Shares of NYSE OC opened at $99.01 on Wednesday. Owens Corning Inc has a 12-month low of $97.67 and a 12-month high of $214.53. The firm's 50-day simple moving average is $129.34 and its 200 day simple moving average is $137.81. The company has a quick ratio of 0.95, a current ratio of 1.52 and a debt-to-equity ratio of 0.98. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 9.10 and a beta of 1.31.
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Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, November 5th. The construction company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates of $3.64 by $0.03. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the previous year, the firm posted $4.38 earnings per share. The company's revenue was down 2.9% on a year-over-year basis. Owens Corning has set its Q4 2025 guidance at EPS. On average, research analysts expect that Owens Corning Inc will post 15.49 earnings per share for the current fiscal year.
Owens Corning Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Monday, October 20th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, October 20th. Owens Corning's dividend payout ratio (DPR) is presently -48.25%.
Owens Corning Company Profile
(Free Report)Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.
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