Owens Corning (NYSE:OC) Shares Bought by Sycomore Asset Management

14 Nov 2024, 12:27 by Teresa Graham · The Cerbat Gem

Sycomore Asset Management grew its holdings in shares of Owens Corning (NYSE:OC – Free Report) by 7.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 20,947 shares of the construction company’s stock after acquiring an additional 1,517 shares during the quarter. Sycomore Asset Management’s holdings in Owens Corning were worth $3,645,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. ST Germain D J Co. Inc. raised its stake in shares of Owens Corning by 794.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 152 shares of the construction company’s stock worth $26,000 after buying an additional 135 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Owens Corning during the second quarter valued at approximately $32,000. Tobam increased its stake in Owens Corning by 115.7% in the 2nd quarter. Tobam now owns 192 shares of the construction company’s stock valued at $33,000 after buying an additional 103 shares during the period. Quarry LP raised its holdings in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after purchasing an additional 144 shares in the last quarter. Finally, Friedenthal Financial bought a new position in Owens Corning in the 2nd quarter worth $48,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In related news, insider Marcio A. Sandri sold 3,050 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $170.00, for a total value of $518,500.00. Following the completion of the sale, the insider now directly owns 60,130 shares in the company, valued at approximately $10,222,100. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Marcio A. Sandri sold 3,050 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $170.00, for a total transaction of $518,500.00. Following the completion of the transaction, the insider now directly owns 60,130 shares of the company’s stock, valued at approximately $10,222,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marcio A. Sandri sold 3,051 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the sale, the insider now directly owns 57,079 shares of the company’s stock, valued at approximately $10,074,443.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Owens Corning Stock Up 0.4 %

Shares of OC traded up $0.83 during midday trading on Thursday, reaching $196.60. 224,376 shares of the company were exchanged, compared to its average volume of 682,632. The stock has a 50-day moving average price of $177.66 and a 200-day moving average price of $174.25. The company has a market cap of $16.86 billion, a price-to-earnings ratio of 16.66, a P/E/G ratio of 2.14 and a beta of 1.41. Owens Corning has a 1-year low of $128.79 and a 1-year high of $199.54. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the company earned $4.15 earnings per share. Research analysts expect that Owens Corning will post 15.39 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Friday, October 18th were given a dividend of $0.60 per share. The ex-dividend date was Friday, October 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.22%. Owens Corning’s dividend payout ratio (DPR) is presently 20.43%.

Analyst Ratings Changes

Several analysts have recently weighed in on OC shares. Evercore ISI lifted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of Owens Corning from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Finally, StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.62.

Get Our Latest Research Report on OC

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.