Assenagon Asset Management S.A. Sells 90,406 Shares of Owens Corning (NYSE:OC)

Assenagon Asset Management S.A. reduced its stake in shares of Owens Corning (NYSE:OCFree Report) by 83.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,055 shares of the construction company’s stock after selling 90,406 shares during the period. Assenagon Asset Management S.A.’s holdings in Owens Corning were worth $2,676,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. State Street Corp raised its position in shares of Owens Corning by 3.7% in the 3rd quarter. State Street Corp now owns 4,301,672 shares of the construction company’s stock worth $338,154,000 after acquiring an additional 155,155 shares in the last quarter. LSV Asset Management raised its position in shares of Owens Corning by 0.9% in the 3rd quarter. LSV Asset Management now owns 2,256,436 shares of the construction company’s stock worth $307,800,000 after acquiring an additional 19,590 shares in the last quarter. Bank of America Corp DE raised its position in shares of Owens Corning by 24.9% in the 1st quarter. Bank of America Corp DE now owns 1,556,181 shares of the construction company’s stock worth $149,082,000 after acquiring an additional 310,487 shares in the last quarter. Invesco Ltd. raised its position in shares of Owens Corning by 156.1% in the 3rd quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock worth $202,932,000 after acquiring an additional 906,782 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Owens Corning by 2.4% in the 1st quarter. Geode Capital Management LLC now owns 1,400,910 shares of the construction company’s stock valued at $134,803,000 after buying an additional 32,729 shares during the period. 88.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on OC shares. Royal Bank of Canada reduced their target price on Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Truist Financial raised their target price on Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. Evercore ISI downgraded Owens Corning from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $163.00 to $154.00 in a research note on Thursday, February 15th. Barclays downgraded Owens Corning from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $170.00 to $160.00 in a research note on Monday, February 12th. Finally, UBS Group cut 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 investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average price target of $159.64.

Check Out Our Latest Research Report on OC

Owens Corning Price Performance

Shares of NYSE OC opened at $166.86 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $14.52 billion, a PE ratio of 12.72, a PEG ratio of 0.45 and a beta of 1.47. The stock’s 50 day moving average price is $154.19 and its 200-day moving average price is $142.49. Owens Corning has a twelve month low of $91.51 and a twelve month high of $169.30.

Owens Corning (NYSE:OCGet Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.39. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. Owens Corning’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.49 EPS. On average, equities analysts anticipate that Owens Corning will post 14.08 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Monday, March 4th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.44%. Owens Corning’s payout ratio is 18.29%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 708 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $153.73, for a total transaction of $108,840.84. Following the sale, the insider now owns 39,994 shares of the company’s stock, valued at approximately $6,148,277.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Gunner Smith sold 708 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $153.73, for a total value of $108,840.84. Following the transaction, the insider now owns 39,994 shares of the company’s stock, valued at $6,148,277.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the transaction, the executive vice president now directly owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. Insiders have sold 21,672 shares of company stock valued at $3,325,799 in the last 90 days. 0.90% of the stock is currently owned by company insiders.

About Owens Corning

(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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