Owens Corning Inc $OC Stock Sold by Nan Fung Trinity HK Ltd.

Nan Fung Trinity HK Ltd. decreased its holdings in shares of Owens Corning Inc (NYSE:OC) by 57.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 193,724 shares of the construction company’s stock after selling 256,276 shares during the quarter. Owens Corning comprises approximately 2.2% of Nan Fung Trinity HK Ltd.’s portfolio, making the stock its 19th biggest holding. Nan Fung Trinity HK Ltd. owned approximately 0.25% of Owens Corning worth $22,615,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OC. HM Payson & Co. grew its position in shares of Owens Corning by 203.6% in the second quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock valued at $27,000 after purchasing an additional 112 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Owens Corning during the 1st quarter valued at $30,000. Fiduciary Financial Advisors purchased a new stake in Owens Corning during the 2nd quarter worth about $35,000. Heritage Family Offices LLP purchased a new stake in Owens Corning during the 3rd quarter worth about $37,000. Finally, NBH Bank bought a new position in Owens Corning in the 2nd quarter worth about $47,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OC shares. Truist Financial upped their price target on Owens Corning from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Thursday, November 5th. Royal Bank Of Canada cut their price objective on shares of Owens Corning from $127.00 to $119.00 and set a “sector perform” rating for the company in a research report on Thursday, November 5th. Citigroup cut their price objective on shares of Owens Corning from $177.00 to $156.00 and set a “buy” rating for the company in a research report on Monday. DA Davidson set a $143.00 price objective on shares of Owens Corning in a research note on Friday, October 9th. Finally, Evercore set a $185.00 target price on shares of Owens Corning in a report on Thursday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $140.93.

Owens Corning Price Performance

NYSE:OC opened at $117.56 on Friday. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of -22.10, a P/E/G ratio of 2.95 and a beta of 1.31. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.91. The stock has a fifty day moving average of $120.75 and a 200 day moving average of $126.09. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.58 and a current ratio of 1.13.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, November 4th. The construction company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.63). Owens Corning had a positive return on equity of 19.14% and a negative net margin of 4.42%. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the company earned $3.67 earnings per share. Owens Corning’s revenue was down 7.3% compared to the same quarter last year. On average, research analysts expect that Owens Corning Inc will post 8.47 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 5th. Stockholders of record on Monday, October 19th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, October 19th. Owens Corning’s dividend payout ratio is presently -59.40%.

Insider Activity at Owens Corning

In related news, insider Rachel Barthelemy Marcon sold 900 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $144.07, for a total transaction of $129,663.00. Following the transaction, the insider directly owned 21,449 shares of the company’s stock, valued at approximately $3,090,157.43. This trade represents a 4.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 Company Profile

Owens Corning is a building-products company that develops and manufactures materials for residential and commercial construction. Its products include roofing shingles and components, insulation for buildings and industrial applications, and interior and exterior doors. Founded in 1938 through the combination of Owens-Illinois Glass Company and Corning Glass Works’ fiberglass operations, the company has a long history of developing glass-fiber-based materials. It is headquartered in Toledo, Ohio, and serves customers in North America and international markets.