Owens Corning (NYSE:OC) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. boosted its holdings in shares of Owens Corning (NYSE:OCFree Report) by 88.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,073 shares of the construction company’s stock after purchasing an additional 975 shares during the period. Blue Trust Inc.’s holdings in Owens Corning were worth $366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in OC. JPMorgan Chase & Co. increased its holdings in shares of Owens Corning by 113.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after purchasing an additional 424,786 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Owens Corning by 16.4% in the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after buying an additional 261,564 shares in the last quarter. Goldentree Asset Management LP acquired a new position in shares of Owens Corning in the third quarter worth about $43,559,000. Nordea Investment Management AB boosted its stake in shares of Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after acquiring an additional 238,694 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Owens Corning by 31.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock valued at $145,455,000 after acquiring an additional 197,667 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OC has been the subject of a number of analyst reports. Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $195.00 to $225.00 in a report on Tuesday, December 17th. Evercore ISI increased their target price on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada upped their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Loop Capital dropped their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.75.

Get Our Latest Stock Report on Owens Corning

Owens Corning Trading Down 3.3 %

OC opened at $184.57 on Friday. The firm has a market capitalization of $15.83 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 2.04 and a beta of 1.46. The company’s 50 day simple moving average is $184.59 and its two-hundred day simple moving average is $178.53. Owens Corning has a 1-year low of $138.70 and a 1-year high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

Owens Corning (NYSE:OCGet Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.15 earnings per share. Analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.50%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio is currently 23.49%.

Insider Buying and Selling

In related news, insider Gunner Smith sold 17,450 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.89% of the stock is owned by company insiders.

Owens Corning Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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