Owens Corning (NYSE:OC) Shares Sold by Xponance Inc.

Xponance Inc. lowered its holdings in Owens Corning (NYSE:OC) by 7.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,896 shares of the construction company’s stock after selling 850 shares during the quarter. Xponance Inc.’s holdings in Owens Corning were worth $1,615,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in OC. Lecap Asset Management Ltd. acquired a new stake in Owens Corning during the 4th quarter worth approximately $1,791,000. Voss Capital LLC purchased a new position in Owens Corning during the fourth quarter worth $5,929,000. Louisiana State Employees Retirement System purchased a new stake in shares of Owens Corning in the fourth quarter valued at $3,706,000. Federated Hermes Inc. grew its position in shares of Owens Corning by 11.6% in the fourth quarter. Federated Hermes Inc. now owns 530,802 shares of the construction company’s stock valued at $78,681,000 after purchasing an additional 55,263 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Owens Corning by 97.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 22,798 shares of the construction company’s stock valued at $3,110,000 after purchasing an additional 11,241 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

OC has been the subject of a number of research reports. Evercore ISI downgraded Owens Corning from an “outperform” rating to an “in-line” rating and lowered their price target for the company from $163.00 to $154.00 in a research report on Thursday, February 15th. Loop Capital boosted their price target on Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Barclays cut Owens Corning from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $170.00 to $160.00 in a research note on Monday, February 12th. UBS Group cut their price target on Owens Corning from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Finally, Citigroup boosted their price objective on Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.14.

Owens Corning Stock Up 1.9 %

NYSE:OC opened at $167.56 on Wednesday. The firm has a market capitalization of $14.58 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 0.28 and a beta of 1.47. The stock has a 50 day moving average of $158.41 and a 200-day moving average of $145.80. Owens Corning has a 52 week low of $98.02 and a 52 week high of $173.65. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, February 14th. The construction company reported $3.21 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the company posted $2.49 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts predict that Owens Corning will post 13.92 EPS for the current year.

Owens Corning Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Brian Chambers sold 9,100 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the transaction, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at approximately $41,417,214.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the sale, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the sale, the chief executive officer now owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The disclosure for this sale can be found here. Insiders sold 21,672 shares of company stock valued at $3,325,799 in the last three months. 0.90% of the stock is currently owned by corporate insiders.

Owens Corning Company 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.