Quent Capital LLC, an institutional investor, has sold 2,500 shares of Owens Corning, reducing its stake by 23.7% during the second quarter. The investor now owns 8,043 shares of the construction company’s stock, with a value of $1,050,000. Other institutional investors and hedge funds have also made changes to their holdings in Owens Corning.
Wall Street analysts have weighed in on the stock, with Benchmark downgrading it to a “hold” rating and Goldman Sachs raising it to a “neutral” rating. The average rating for Owens Corning is currently “Moderate Buy,” with a consensus price target of $141.57.
Owens Corning’s stock traded at $136.79 on Friday, with a market cap of $12.29 billion. The company has a 1-year low of $74.22 and a 1-year high of $147.00.
In its latest earnings report, Owens Corning reported $4.22 earnings per share for the quarter, beating the consensus estimate of $3.25. The company’s net margin is 13.62%, and its return on equity is 25.59%. The quarterly revenue was $2.56 billion, slightly lower compared to the same quarter last year.
The company has also announced a quarterly dividend of $0.52 per share, to be paid on November 3rd. Insiders have made transactions in the stock, with Director W Howard Morris and insider Todd W. Fister selling shares.
Owens Corning is engaged in the manufacture and sale of insulation, roofing, and fiberglass composite materials.
Sources:
– SEC filing
– MarketBeat
– Owens Corning corporate website