Cerity Partners LLC Buys 945 Shares of Owens Corning (NYSE:OC)

Cerity Partners LLC grew its stake in shares of Owens Corning (NYSE:OC) by 22.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,160 shares of the construction company’s stock after buying an additional 945 shares during the period. Cerity Partners LLC’s holdings in Owens Corning were worth $765,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in OC. Blue Trust Inc. increased its stake in Owens Corning by 42.2% in the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after buying an additional 78 shares in the last quarter. Caprock Group LLC grew its position in shares of Owens Corning by 3.7% during the fourth quarter. Caprock Group LLC now owns 2,214 shares of the construction company’s stock worth $328,000 after purchasing an additional 79 shares in the last quarter. VisionPoint Advisory Group LLC raised its stake in Owens Corning by 53.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock valued at $35,000 after purchasing an additional 88 shares during the period. Ballentine Partners LLC lifted its holdings in Owens Corning by 1.5% in the 3rd quarter. Ballentine Partners LLC now owns 6,192 shares of the construction company’s stock worth $845,000 after purchasing an additional 89 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Owens Corning by 26.4% in the 3rd quarter. UMB Bank n.a. now owns 469 shares of the construction company’s stock worth $64,000 after purchasing an additional 98 shares during the period. 88.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Gunner Smith sold 657 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $153.36, for a total transaction of $100,757.52. Following the completion of the transaction, the insider now owns 37,587 shares in the company, valued at approximately $5,764,342.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Owens Corning news, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value of $1,397,487.00. Following the transaction, the chief executive officer now directly owns 269,696 shares in the company, valued at approximately $41,417,214.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gunner Smith sold 657 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $153.36, for a total transaction of $100,757.52. Following the transaction, the insider now directly owns 37,587 shares in the company, valued at $5,764,342.32. The disclosure for this sale can be found here. Insiders sold a total of 21,672 shares of company stock valued at $3,325,799 over the last 90 days. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Evercore ISI cut shares of Owens Corning from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $163.00 to $154.00 in a research report on Thursday, February 15th. Barclays cut shares of Owens Corning from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $170.00 to $160.00 in a research note on Monday, February 12th. Royal Bank of Canada dropped their price objective on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Truist Financial lifted their target price on Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. Finally, UBS Group dropped their price target on Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $162.14.

Owens Corning Stock Performance

NYSE OC opened at $167.56 on Wednesday. The business’s 50 day moving average price is $158.41 and its 200-day moving average price is $145.80. Owens Corning has a fifty-two week low of $98.02 and a fifty-two week high of $173.65. The company has a market cap of $14.58 billion, a P/E ratio of 12.77, a P/E/G ratio of 0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.69.

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

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is currently 18.29%.

About Owens Corning

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.