Empowered Funds LLC Has $5.40 Million Stake in Owens Corning Inc $OC

Empowered Funds LLC reduced its stake in shares of Owens Corning Inc (NYSE:OC) by 57.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 39,296 shares of the construction company’s stock after selling 53,070 shares during the quarter. Empowered Funds LLC’s holdings in Owens Corning were worth $5,404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB boosted its position in Owens Corning by 0.7% in the second quarter. Nordea Investment Management AB now owns 2,225,800 shares of the construction company’s stock valued at $305,291,000 after buying an additional 15,927 shares in the last quarter. Aviva PLC raised its stake in shares of Owens Corning by 7.2% in the second quarter. Aviva PLC now owns 60,634 shares of the construction company’s stock valued at $8,338,000 after acquiring an additional 4,091 shares during the last quarter. Financial Partners Group LLC boosted its holdings in shares of Owens Corning by 23.2% in the 2nd quarter. Financial Partners Group LLC now owns 11,994 shares of the construction company’s stock worth $1,649,000 after acquiring an additional 2,259 shares in the last quarter. Fox Run Management L.L.C. boosted its holdings in shares of Owens Corning by 307.6% in the 2nd quarter. Fox Run Management L.L.C. now owns 6,428 shares of the construction company’s stock worth $884,000 after acquiring an additional 4,851 shares in the last quarter. Finally, Cincinnati Financial Corp grew its position in Owens Corning by 94.3% during the 2nd quarter. Cincinnati Financial Corp now owns 171,000 shares of the construction company’s stock worth $23,516,000 after acquiring an additional 83,000 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Price Performance

Owens Corning stock opened at $98.24 on Friday. The business’s 50-day simple moving average is $127.08 and its 200 day simple moving average is $137.27. 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 stock has a market cap of $8.07 billion, a price-to-earnings ratio of 25.52, a P/E/G ratio of 9.10 and a beta of 1.31. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $214.53.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, November 5th. The construction company reported $3.67 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the company posted $4.38 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. Owens Corning has set its Q4 2025 guidance at EPS. As a group, research analysts anticipate that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Monday, October 20th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, October 20th. Owens Corning’s payout ratio is currently -48.25%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Vertical Research assumed coverage on Owens Corning in a research report on Monday, October 20th. They issued a “hold” rating for the company. Wells Fargo & Company lowered their target price on Owens Corning from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. JPMorgan Chase & Co. reduced their price target on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Royal Bank Of Canada decreased their price objective on shares of Owens Corning from $174.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Finally, Barclays lowered their price objective on shares of Owens Corning from $173.00 to $131.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Ten analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Owens Corning presently has an average rating of “Hold” and a consensus target price of $157.67.

About Owens Corning

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.