Owens Corning Inc $OC Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of Owens Corning Inc (NYSE:OC) by 21.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,379 shares of the construction company’s stock after selling 37,918 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Owens Corning were worth $16,253,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Owens Corning in the second quarter worth about $26,000. Rexford Capital Inc. acquired a new stake in shares of Owens Corning in the second quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Owens Corning in the second quarter valued at approximately $30,000. Root Financial Partners LLC purchased a new position in Owens Corning during the third quarter worth approximately $39,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in Owens Corning during the third quarter worth approximately $42,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a report on Friday, March 27th. Barclays upped their price objective on shares of Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, January 15th. Royal Bank Of Canada set a $143.00 target price on shares of Owens Corning in a research note on Friday, January 9th. Citigroup cut their price target on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Finally, UBS Group lifted their price target on shares of Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.73.

Owens Corning Trading Up 0.0%

Shares of NYSE OC opened at $105.86 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.70 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $8.51 billion, a PE ratio of -16.54, a PEG ratio of 1.71 and a beta of 1.35. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.42. The stock has a fifty day simple moving average of $118.36 and a 200-day simple moving average of $119.82.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.26). The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.Owens Corning’s revenue was down 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.22 EPS. On average, equities analysts forecast that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be issued a $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.0%. Owens Corning’s payout ratio is -49.38%.

Owens Corning Company 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.