BlackRock Amends Owens Corning Stake, Signals Continued Institutional Interest

TL;DR

**BlackRock just updated its Owens Corning stake, showing continued institutional backing.**

AI Summary

BlackRock Inc. filed an amended Schedule 13G/A on January 23, 2024, indicating a change in their ownership of Owens Corning (NYSE: OC) common stock as of December 31, 2023. This is the 10th amendment to their filing, showing that BlackRock continues to be a significant institutional holder in Owens Corning. This matters to investors because large institutional ownership by firms like BlackRock can signal confidence in the company's long-term prospects, but changes in their holdings can also influence stock price and liquidity.

Why It Matters

This filing confirms BlackRock's ongoing, albeit potentially adjusted, significant stake in Owens Corning, which can influence investor sentiment and the stock's perceived stability.

Risk Assessment

Risk Level: low — This is a routine amendment by a large institutional investor and does not indicate any immediate significant risk to Owens Corning.

Analyst Insight

An investor should note BlackRock's continued presence as a major shareholder in Owens Corning, but would need to review the full filing (which is not provided here) to understand the specific change in their percentage ownership or share count to make an informed decision.

Key Players & Entities

• BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
• Owens Corning (company) — the subject company whose securities are being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• January 23, 2024 (date) — the filing date of the SC 13G/A
• Amendment No: 10 (number) — the number of this amendment to the Schedule 13G

FAQ

From the Filing

0001086364-24-001747.txt : 20240123 0001086364-24-001747.hdr.sgml : 20240123 20240123161400 ACCESSION NUMBER: 0001086364-24-001747 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240123 DATE AS OF CHANGE: 20240123 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Owens Corning CENTRAL INDEX KEY: 0001370946 STANDARD INDUSTRIAL CLASSIFICATION: ABRASIVE ASBESTOS & MISC NONMETALLIC MINERAL PRODUCTS [3290] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-82162 FILM NUMBER: 24552772 BUSINESS ADDRESS: STREET 1: ONE OWENS CORNING PARKWAY CITY: TOLEDO STATE: OH ZIP: 43659 BUSINESS PHONE: 419-248-8000 MAIL ADDRESS: STREET 1: ONE OWENS CORNING PARKWAY CITY: TOLEDO STATE: OH ZIP: 43659 FORMER COMPANY: FORMER CONFORMED NAME: Owens Corning (Reorganized) Inc. DATE OF NAME CHANGE: 20060731 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us6907421019_012324.txt us6907421019_012324.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 10) OWENS CORNING -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 690742101 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 690742101 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 10140170 (6) Shared voting power 0 (7) Sole dispositive power 10973403 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 10973403 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 12.3% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- OWENS CORNING Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- One Owens Corning Parkway Toledo OH 43659 Item 2. 2(a) Name of person filing: ----------------------------------------------------------------------