Owens Corning (NYSE:OC) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. cut its holdings in shares of Owens Corning (NYSE:OC) by 13.4% in the fourth quarter, HoldingsChannel reports. The firm owned 2,061 shares of the construction company’s stock after selling 318 shares during the period. Stratos Wealth Partners LTD.’s holdings in Owens Corning were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OC. Blue Trust Inc. raised its position in shares of Owens Corning by 42.2% in the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after acquiring an additional 78 shares during the period. Caprock Group LLC raised its position in shares of Owens Corning by 3.7% in the fourth quarter. Caprock Group LLC now owns 2,214 shares of the construction company’s stock worth $328,000 after acquiring an additional 79 shares during the period. VisionPoint Advisory Group LLC raised its position in shares of Owens Corning by 53.0% in the third quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock worth $35,000 after acquiring an additional 88 shares during the period. Ballentine Partners LLC raised its position in shares of Owens Corning by 1.5% in the third quarter. Ballentine Partners LLC now owns 6,192 shares of the construction company’s stock worth $845,000 after acquiring an additional 89 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Owens Corning by 26.4% in the third quarter. UMB Bank n.a. now owns 469 shares of the construction company’s stock worth $64,000 after acquiring an additional 98 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Down 0.6 %

Shares of NYSE OC opened at $165.51 on Monday. Owens Corning has a 12-month low of $96.86 and a 12-month high of $173.65. The stock has a market cap of $14.40 billion, a PE ratio of 12.62, a P/E/G ratio of 0.29 and a beta of 1.47. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $156.93 and a 200 day moving average of $144.36.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported $3.21 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $2.25 billion. During the same quarter in the prior year, the company earned $2.49 EPS. Owens Corning’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts predict that Owens Corning will post 13.77 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Monday, March 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.45%. Owens Corning’s dividend payout ratio (DPR) is 18.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Barclays downgraded shares of Owens Corning from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $170.00 to $160.00 in a research report on Monday, February 12th. Royal Bank of Canada reduced their price target on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Truist Financial upped their price target on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 20th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and an average price target of $162.14.

Insider Activity

In other news, EVP Paula Russell sold 3,765 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were 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 owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Paula Russell sold 3,765 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were 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 owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gunner Smith sold 657 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $153.36, for a total transaction 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 a total of 21,672 shares of company stock valued at $3,325,799 in the last 90 days. Company insiders own 0.89% of the company’s stock.

Owens Corning 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.