ABN Amro Investment Solutions Has $1.94 Million Stock Position in Owens Corning Inc $OC

ABN Amro Investment Solutions decreased its stake in Owens Corning Inc (NYSE:OC) by 34.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,898 shares of the construction company’s stock after selling 9,471 shares during the period. ABN Amro Investment Solutions’ holdings in Owens Corning were worth $1,937,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in OC. Itau Unibanco Holding S.A. bought a new stake in shares of Owens Corning in the 4th quarter valued at about $29,000. Cassaday & Co Wealth Management LLC bought a new stake in Owens Corning in the first quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC acquired a new position in Owens Corning in the 3rd quarter valued at about $42,000. Harbour Investments Inc. increased its holdings in shares of Owens Corning by 66.5% during the fourth quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after purchasing an additional 129 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Owens Corning during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on OC shares. The Goldman Sachs Group raised their target price on Owens Corning from $141.00 to $159.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Zacks Research raised shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Wells Fargo & Company upped their price objective on shares of Owens Corning from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada raised their target price on Owens Corning from $148.00 to $172.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Finally, Barclays raised their target price on Owens Corning from $144.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.92.

Owens Corning Price Performance

Shares of OC opened at $142.41 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.24. The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of -21.55, a price-to-earnings-growth ratio of 2.70 and a beta of 1.30. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $159.91. The firm has a 50-day simple moving average of $131.26 and a 200-day simple moving average of $123.39.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.21. The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The business’s revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.97 earnings per share. On average, equities research analysts anticipate that Owens Corning Inc will post 9.55 earnings per share for the current year.

Owens Corning Announces Dividend

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

Insider Buying and Selling

In other news, insider Rachel Barthelemy Marcon sold 700 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the transaction, the insider directly owned 15,848 shares in the company, valued at $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president owned 3,093 shares of the company’s stock, valued at $374,005.56. The trade was a 38.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.92% of the stock is owned by insiders.

About Owens Corning

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.