Handelsbanken Fonder AB Has $2.67 Million Stock Holdings in Owens Corning (NYSE:OC)

Handelsbanken Fonder AB trimmed its stake in shares of Owens Corning (NYSE:OC) by 1.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 18,000 shares of the construction company’s stock after selling 200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Owens Corning were worth $2,668,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Contravisory Investment Management Inc. acquired a new stake in shares of Owens Corning during the 4th quarter worth approximately $27,000. Bruce G. Allen Investments LLC bought a new stake in Owens Corning during the fourth quarter worth $27,000. VisionPoint Advisory Group LLC boosted its stake in Owens Corning by 53.0% in the third quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock valued at $35,000 after buying an additional 88 shares in the last quarter. BluePath Capital Management LLC acquired a new stake in Owens Corning in the third quarter valued at about $36,000. Finally, Blue Trust Inc. grew its position in Owens Corning by 42.2% in the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock valued at $36,000 after acquiring an additional 78 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Insider Activity

In related news, CEO Brian Chambers sold 9,100 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, 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 transaction of $1,397,487.00. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gunner Smith sold 657 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $153.36, for a total value of $100,757.52. Following the completion of the sale, the insider now directly owns 37,587 shares of the company’s stock, valued at approximately $5,764,342.32. The disclosure for this sale can be found here. Insiders sold 21,672 shares of company stock worth $3,325,799 in the last quarter. 0.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

OC has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup upped their price target on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Argus raised their price objective on Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI boosted their price objective on Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a research report on Thursday. Finally, Truist Financial increased their target price on Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, February 15th. Eight 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 company’s stock. According to data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and a consensus price target of $168.21.

Owens Corning Price Performance

Shares of NYSE OC opened at $168.55 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $14.61 billion, a PE ratio of 13.65, a P/E/G ratio of 6.97 and a beta of 1.47. The firm has a fifty day simple moving average of $159.88 and a 200 day simple moving average of $146.32. Owens Corning has a twelve month low of $99.49 and a twelve month high of $173.65.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the business earned $2.77 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year. On average, sell-side analysts forecast that Owens Corning will post 13.92 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Monday, March 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

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.