Fidelis Capital Partners LLC Buys Shares of 1,383 Owens Corning (NYSE:OC)

Fidelis Capital Partners LLC purchased a new position in Owens Corning (NYSE:OC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,383 shares of the construction company’s stock, valued at approximately $205,000.

A number of other institutional investors have also made changes to their positions in OC. Contravisory Investment Management Inc. bought a new position in shares of Owens Corning during the 4th quarter valued at about $27,000. Bruce G. Allen Investments LLC acquired a new stake in Owens Corning during the 4th quarter worth approximately $27,000. First Capital Advisors Group LLC. bought a new position in Owens Corning in the second quarter valued at approximately $31,000. IFP Advisors Inc boosted its holdings in shares of Owens Corning by 78.1% in the second quarter. IFP Advisors Inc now owns 244 shares of the construction company’s stock valued at $32,000 after buying an additional 107 shares during the period. Finally, Power Corp of Canada acquired a new position in shares of Owens Corning in the first quarter valued at approximately $34,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Price Performance

Shares of NYSE OC opened at $160.11 on Friday. Owens Corning has a twelve month low of $98.02 and a twelve month high of $173.65. The company has a market cap of $13.93 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 0.28 and a beta of 1.47. The business’s 50 day moving average price is $157.70 and its two-hundred day moving average price is $145.24. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.39. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the prior year, the business earned $2.49 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts predict that Owens Corning will post 13.77 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Friday, March 1st. Owens Corning’s payout ratio is 18.29%.

Insider Activity at Owens Corning

In other Owens Corning news, CEO Brian Chambers sold 9,100 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the completion of the sale, the chief executive officer now directly owns 269,696 shares in the company, valued at $41,417,214.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian Chambers sold 9,100 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the completion of the sale, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at approximately $41,417,214.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,672 shares of company stock worth $3,325,799. Insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on OC shares. Citigroup boosted their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Truist Financial boosted their price target on Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, February 15th. UBS Group decreased their price objective on Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Loop Capital raised their price target on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, Barclays lowered shares of Owens Corning from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $170.00 to $160.00 in a research report on Monday, February 12th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and a consensus target price of $162.14.

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.