Quent Capital LLC Decreases Stake in Owens Corning

Quent Capital LLC has reduced its stake in construction company Owens Corning by 23.7% during the second quarter, according to a recent disclosure with the SEC. The institutional investor sold 2,500 shares, leaving it with 8,043 shares worth $1,050,000. Other institutional investors and hedge funds have also adjusted their positions in Owens Corning, with 90.22% of the stock now owned by these investors.

Several research firms have recently issued reports on Owens Corning. Benchmark downgraded the stock from a “buy” to a “hold” rating. The Goldman Sachs Group upgraded the stock from a “sell” to a “neutral” rating and increased the price target. Truist Financial raised the price target as well. JPMorgan also upgraded the stock from “underweight” to “neutral” with an increased price target. StockNews.com downgraded the stock from a “strong buy” to a “buy” rating. Overall, the stock has an average rating of “moderate buy” and a consensus price target of $141.57.

Shares of Owens Corning reached $136.79 during mid-day trading on Friday, with a trading volume of 2,406,563 shares. The stock has a 1-year low of $74.22 and a 1-year high of $147.00. The company has a market cap of $12.29 billion and a P/E ratio of 9.69.

Owens Corning reported earnings per share of $4.22 for the second quarter, beating the consensus estimate of $3.25. The company had revenue of $2.56 billion, slightly lower than analyst estimates. Analysts predict that Owens Corning will post earnings per share of 13.6 for the current year.

The company also announced a quarterly dividend of $0.52 per share, with a yield of 1.52%. Insiders have been selling their shares, including Director W Howard Morris and insider Todd W. Fister.

Owens Corning manufactures and sells insulation, roofing, and fiberglass composite materials in multiple countries.

– SEC filing
– MarketBeat
– Yahoo Finance