Hsbc Holdings PLC Has $2.67 Million Stock Holdings in Owens Corning Inc $OC

Hsbc Holdings PLC trimmed its position in Owens Corning Inc (NYSE:OC) by 44.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,771 shares of the construction company’s stock after selling 19,041 shares during the quarter. Hsbc Holdings PLC’s holdings in Owens Corning were worth $2,668,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Pitcairn Co. grew its stake in Owens Corning by 4.6% in the second quarter. Pitcairn Co. now owns 1,821 shares of the construction company’s stock valued at $250,000 after acquiring an additional 80 shares during the period. Viawealth LLC raised its position in shares of Owens Corning by 3.6% during the fourth quarter. Viawealth LLC now owns 2,563 shares of the construction company’s stock worth $287,000 after purchasing an additional 88 shares during the period. Pallas Capital Advisors LLC raised its position in shares of Owens Corning by 2.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,997 shares of the construction company’s stock worth $447,000 after purchasing an additional 104 shares during the period. Groupama Asset Managment lifted its holdings in shares of Owens Corning by 1.8% in the 4th quarter. Groupama Asset Managment now owns 6,153 shares of the construction company’s stock worth $689,000 after purchasing an additional 106 shares in the last quarter. Finally, Lido Advisors LLC grew its position in Owens Corning by 6.4% in the 4th quarter. Lido Advisors LLC now owns 1,904 shares of the construction company’s stock valued at $213,000 after purchasing an additional 115 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Rachel Barthelemy Marcon sold 700 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the transaction, the insider directly owned 15,848 shares in the company, valued at approximately $1,913,012.08. The trade was a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 dated Friday, May 8th. The stock was sold at an average price of $120.92, for a total transaction of $232,891.92. Following the completion of the sale, the vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on OC shares. Barclays boosted their price target on shares of Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Owens Corning from $136.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Bank of America decreased their target price on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Finally, Weiss Ratings upgraded shares of Owens Corning from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $154.08.

Owens Corning Stock Up 2.1%

Shares of NYSE:OC opened at $143.27 on Friday. The business’s 50 day moving average is $127.01 and its 200 day moving average is $121.39. Owens Corning Inc has a 12-month low of $97.53 and a 12-month high of $159.91. The stock has a market cap of $11.54 billion, a price-to-earnings ratio of -21.67, a PEG ratio of 2.54 and a beta of 1.30. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 1.27.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.21. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the firm posted $2.97 EPS. Owens Corning’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, sell-side analysts forecast that Owens Corning Inc will post 9.53 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 20th will be paid 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 is presently -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.