Inceptionr LLC Has $366,000 Holdings in Owens Corning Inc $OC

Inceptionr LLC cut its holdings in shares of Owens Corning Inc (NYSE:OC) by 52.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,382 shares of the construction company’s stock after selling 3,659 shares during the quarter. Inceptionr LLC’s holdings in Owens Corning were worth $366,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its stake in Owens Corning by 460.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,313,019 shares of the construction company’s stock worth $146,940,000 after acquiring an additional 1,078,877 shares during the period. Norges Bank acquired a new stake in shares of Owens Corning during the 4th quarter worth $119,748,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Owens Corning by 721.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,170,179 shares of the construction company’s stock worth $125,513,000 after purchasing an additional 1,027,800 shares in the last quarter. Gendell Jeffrey L increased its position in shares of Owens Corning by 349.3% in the fourth quarter. Gendell Jeffrey L now owns 922,063 shares of the construction company’s stock worth $103,188,000 after purchasing an additional 716,839 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Owens Corning by 33.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,576,405 shares of the construction company’s stock valued at $288,332,000 after purchasing an additional 645,773 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on OC shares. Evercore reaffirmed an “outperform” rating and set a $193.00 price objective on shares of Owens Corning in a research report on Thursday. Barclays boosted their target price on shares of Owens Corning from $144.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Owens Corning from $136.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Royal Bank Of Canada increased their price target on shares of Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Finally, Truist Financial lifted their price objective on shares of Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and an average target price of $157.92.

Insider Buying and Selling

In other news, VP Mari Doerfler sold 1,926 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were 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 in the company, valued at approximately $374,005.56. The trade was a 38.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the transaction, the insider owned 15,848 shares in the company, valued at approximately $1,913,012.08. The trade was a 4.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.92% of the company’s stock.

Owens Corning Stock Up 0.1%

Shares of NYSE OC opened at $142.41 on Monday. 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 company has a market cap of $11.47 billion, a price-to-earnings ratio of -21.55, a PEG ratio of 2.76 and a beta of 1.30. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $159.91. The stock has a 50-day moving average price of $131.26 and a two-hundred day moving average price of $123.46.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Owens Corning had a negative net margin of 5.43% and a positive return on equity of 19.86%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.97 earnings per share. As a group, analysts forecast that Owens Corning Inc will post 9.55 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Monday, July 20th will be given a $0.79 dividend. The ex-dividend date is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a yield of 2.2%. Owens Corning’s dividend payout ratio (DPR) is currently -47.81%.

Owens Corning Profile

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.