Empirical Finance LLC Sells 3,423 Shares of Owens Corning Inc $OC

Empirical Finance LLC reduced its stake in Owens Corning Inc (NYSE:OC) by 52.3% during the 2nd quarter, Holdings Channel reports. The fund owned 3,128 shares of the construction company’s stock after selling 3,423 shares during the period. Empirical Finance LLC’s holdings in Owens Corning were worth $430,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of OC. Cerity Partners LLC grew its position in shares of Owens Corning by 8.4% in the first quarter. Cerity Partners LLC now owns 4,406 shares of the construction company’s stock valued at $629,000 after purchasing an additional 340 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Owens Corning by 10.4% during the 1st quarter. Private Advisor Group LLC now owns 1,602 shares of the construction company’s stock worth $229,000 after purchasing an additional 151 shares during the last quarter. Kestra Private Wealth Services LLC bought a new stake in Owens Corning in the 1st quarter valued at $1,226,000. Y Intercept Hong Kong Ltd acquired a new position in Owens Corning in the 1st quarter valued at $1,595,000. Finally, KLP Kapitalforvaltning AS increased its position in Owens Corning by 7.8% during the 1st quarter. KLP Kapitalforvaltning AS now owns 133,543 shares of the construction company’s stock worth $19,152,000 after buying an additional 9,700 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OC has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Jefferies Financial Group cut their price objective on shares of Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Wells Fargo & Company decreased their target price on shares of Owens Corning from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Owens Corning in a research report on Wednesday. Finally, Bank of America cut their price target on Owens Corning from $180.00 to $168.00 and set a “buy” rating for the company in a research note on Wednesday, October 1st. Ten investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $157.67.

Owens Corning Stock Down 0.9%

Shares of OC opened at $98.24 on Friday. The firm has a 50 day simple moving average of $127.08 and a two-hundred day simple moving average of $137.27. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.52 and a quick ratio of 0.95. Owens Corning Inc has a one year low of $97.53 and a one year high of $214.53. The company has a market cap of $8.07 billion, a P/E ratio of 25.52, a P/E/G ratio of 9.10 and a beta of 1.31.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, November 5th. The construction company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.03. Owens Corning had a return on equity of 24.49% and a net margin of 2.98%.The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the business 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. Research analysts forecast that Owens Corning Inc will post 15.49 EPS for the current fiscal 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 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 payout ratio is currently -48.25%.

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.