Legal & General Group Plc Sells 31,082 Shares of Owens Corning Inc $OC

Legal & General Group Plc lowered its stake in Owens Corning Inc (NYSE:OC) by 9.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 294,778 shares of the construction company’s stock after selling 31,082 shares during the quarter. Legal & General Group Plc owned about 0.35% of Owens Corning worth $40,538,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OC. Seeds Investor LLC lifted its stake in shares of Owens Corning by 20.8% during the 2nd quarter. Seeds Investor LLC now owns 2,001 shares of the construction company’s stock worth $275,000 after acquiring an additional 344 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Owens Corning by 6.7% in the second quarter. JPMorgan Chase & Co. now owns 456,952 shares of the construction company’s stock worth $62,840,000 after purchasing an additional 28,814 shares in the last quarter. Magnetar Financial LLC increased its holdings in Owens Corning by 112.6% during the 2nd quarter. Magnetar Financial LLC now owns 70,132 shares of the construction company’s stock worth $9,645,000 after purchasing an additional 37,145 shares during the period. Swiss National Bank raised its position in Owens Corning by 6.7% during the 2nd quarter. Swiss National Bank now owns 258,300 shares of the construction company’s stock valued at $35,521,000 after purchasing an additional 16,300 shares in the last quarter. Finally, ABN AMRO Bank N.V. purchased a new stake in shares of Owens Corning in the 2nd quarter worth $34,531,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Performance

OC stock opened at $111.67 on Thursday. Owens Corning Inc has a one year low of $97.53 and a one year high of $210.79. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 9.10 and a beta of 1.31. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.95 and a current ratio of 1.52. The firm has a 50-day simple moving average of $123.67 and a two-hundred day simple moving average of $136.41.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.64 by $0.03. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the previous year, the business posted $4.38 EPS. Owens Corning’s revenue was down 2.9% on a year-over-year basis. Owens Corning has set its Q4 2025 guidance at EPS. On average, equities analysts forecast that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Monday, October 20th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, October 20th. Owens Corning’s dividend payout ratio is currently -48.25%.

Wall Street Analyst Weigh In

OC has been the topic of several research reports. Barclays cut their price target on Owens Corning from $173.00 to $131.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Evercore ISI set a $121.00 target price on shares of Owens Corning in a research report on Thursday, November 6th. Zacks Research lowered shares of Owens Corning from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Jefferies Financial Group lowered their price target on shares of Owens Corning from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Finally, Wells Fargo & Company cut their price objective on shares of Owens Corning from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Owens Corning currently has an average rating of “Hold” and a consensus target price of $157.67.

Owens Corning Company Profile

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.