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8 stories mentioning OCUpdated 10d ago

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Wire

Owens Corning Appoints Jonathan Collins as Chief Financial Officer

Owens Corning (OC) said Wednesday it appointed Jonathan Collins as its executive vice president and chief financial officer, effective Aug. 10.He succeeds Todd Fister, who will assume the role of president and chief operating officer following a planned transition from his dual responsibilities as chief financial and operating officer, the company said.Collins most recently served as chief financial officer at Clarivate, Owens Corning said.Shares of the company were down 5.7% in Wednesday trading.Price: $135.26, Change: $-7.87, Percent Change: -5.50%

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Wire

Update: Market Chatter: Carlisle Companies Made Unsolicited Offers for Owens Corning

(Updates to add more details from the Wall Street Journal report in the third paragraph.)Carlisle Companies (CSL) has made multiple unsolicited offers to acquire Owens Corning (OC), with a potential deal valued at over $10 billion, The Wall Street Journal reported Monday, citing people familiar with the matter.Owens Corning has not yet engaged substantially with Carlisle, the report said, adding that Carlisle is now evaluating its next move.Carlisle has proposed a mix of cash and stock to acquire Owens Corning at a significant premium to where its shares have traded this year, the report added.Carlisle Companies, Owens Corning did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $371.75, Change: $-16.63, Percent Change: -4.28%

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Wire

Market Chatter: Carlisle Companies Made Unsolicited Offers for Owens Corning

Carlisle Companies (CSL) has made multiple unsolicited offers to acquire Owens Corning (OC), with a potential deal valued at over $10 billion, The Wall Street Journal reported Monday, citing people familiar with the matter.Owens Corning has not yet engaged substantially with Carlisle, the report said, adding that Carlisle is now evaluating its next move.Carlisle Companies, Owens Corning did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $369.68, Change: $-18.70, Percent Change: -4.81%

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Wire

Carlisle Made Unsolicited Offers for Owens Corning, The Wall Street Journal Reports

Carlisle Made Unsolicited Offers for Owens Corning, The Wall Street Journal Reports

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Research

Research Alert: CFRA Maintains Hold Opinion On Owens Corning With A $136 Target Price

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain our target price of $136. Our target is an average of a forward P/E of 8.5x our 2027 EPS view of $12.72 ($108) and our DCF model, using a terminal growth rate of 2.5%, WACC of 7.1%, and 10-year FCFF CAGR of 7.7% ($164). Q1 was particularly weak across all segments, with revenues down 10% and EBITDA down 35%. Margins also compressed 600 basis points, however looking through the weakness, Q2 margins are expected to improve to the 20-22% range ($2.6B-$2.7B). This in combination with the glass reinforcements sale ($280M in cash) being completed may be why shares are responding positively in pre-market trading.

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Wire

RBC Capital Adjusts Owens Corning Price Target to $148 From $134, Maintains Outperform Rating

RBC Capital Adjusts Owens Corning Price Target to $148 From $134, Maintains Outperform Rating

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Research

Research Alert: Oc Q1 Pressured By Broad Weakness; Guides Higher Q2 Margins Post-divestiture

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Owens Corning reported Q1 sales of $2.265B (-10% Y/Y) with adjusted EPS of $1.22 as broad-based weakness hit all segments, with Roofing declining 14% to $960M, Insulation falling 5% to $867M, and Doors dropping 12% to $475M. EBITDA margins compressed by 600 bps across segments, with consolidated margin at 16%, while operating cash flow turned negative at $(154)M and FCF deteriorated to $(387)M. The company completed the strategic sale of its glass reinforcements business for ~$280M in cash, with proceeds funding organic growth and shareholder returns as OC pivots to a focused building products platform. Management guided Q2 revenue of $2.6B-$2.7B with adjusted EBITDA margin of 20%-22% (versus 16% in Q1), expecting $60M in inflationary headwinds from the Iran conflict. Residential construction and discretionary remodeling markets are expected to remain under pressure, with roofing demand slightly down absent major storm activity, though potential $25M tariff refunds provide upside not included in guidance.

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Wire

BofA Securities Lowers Price Target on Owens Corning to $138 From $140

Owens Corning (OC) has an average rating of overweight and mean price target of $137.75, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $122.33, Change: $-0.51, Percent Change: -0.42%

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