[ad_1]
Truist Financial Corp boosted its stake in Owens Corning (NYSE:OC – Free Report) by 4.0% in the 4th quarter, Holdings Channel reports. The firm owned 16,038 shares of the construction company’s stock after purchasing an additional 624 shares during the period. Truist Financial Corp’s holdings in Owens Corning were worth $2,732,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC purchased a new position in Owens Corning in the 4th quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB boosted its position in Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after buying an additional 122 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Owens Corning during the 3rd quarter worth $38,000. Versant Capital Management Inc lifted its position in shares of Owens Corning by 88.1% during the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after purchasing an additional 178 shares during the last quarter. Finally, Catalyst Capital Advisors LLC lifted its position in shares of Owens Corning by 419.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 426 shares of the construction company’s stock worth $73,000 after purchasing an additional 344 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.
Owens Corning Trading Down 2.5 %
Shares of Owens Corning stock opened at $158.75 on Wednesday. Owens Corning has a 52-week low of $145.50 and a 52-week high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company’s 50-day simple moving average is $176.48 and its 200-day simple moving average is $179.01. The firm has a market cap of $13.62 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46.
Owens Corning (NYSE:OC – Get Free Report) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the business posted $3.21 earnings per share. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.
Owens Corning Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.74%. Owens Corning’s payout ratio is currently 23.49%.
Insiders Place Their Bets
In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the sale, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. Citigroup decreased their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Loop Capital reduced their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. UBS Group reduced their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.00.
Owens Corning Profile
Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.
Recommended Stories
Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning (NYSE:OC – Free Report).
Receive News & Ratings for Owens Corning Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Owens Corning and related companies with MarketBeat.com’s FREE daily email newsletter.
[ad_2]
Source link
