Strs Ohio Sells 1,510 Shares of Owens Corning (NYSE:OC)

Strs Ohio reduced its position in Owens Corning (NYSE:OC) by 10.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,376 shares of the construction company’s stock after selling 1,510 shares during the period. Strs Ohio’s holdings in Owens Corning were worth $1,982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE boosted its position in shares of Owens Corning by 4.0% in the 1st quarter. US Bancorp DE now owns 6,502 shares of the construction company’s stock worth $595,000 after purchasing an additional 249 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Owens Corning by 9.3% during the first quarter. HighTower Advisors LLC now owns 2,606 shares of the construction company’s stock worth $238,000 after acquiring an additional 221 shares during the last quarter. Natixis Advisors L.P. grew its stake in shares of Owens Corning by 24.9% during the first quarter. Natixis Advisors L.P. now owns 13,517 shares of the construction company’s stock worth $1,237,000 after acquiring an additional 2,693 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Owens Corning by 10.8% during the first quarter. Bank of Montreal Can now owns 19,987 shares of the construction company’s stock valued at $1,888,000 after acquiring an additional 1,952 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Owens Corning by 245.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,649 shares of the construction company’s stock valued at $333,000 after purchasing an additional 2,592 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

OC opened at $160.16 on Friday. The firm has a fifty day moving average price of $157.70 and a 200 day moving average price of $145.13. Owens Corning has a 1 year low of $98.02 and a 1 year high of $173.65. The stock has a market cap of $13.94 billion, a P/E ratio of 12.21, a P/E/G ratio of 0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 1.17.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the company earned $2.49 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts anticipate that Owens Corning will post 13.77 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were given a dividend of $0.60 per share. The ex-dividend date was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.50%. Owens Corning’s dividend payout ratio is currently 18.29%.

Insider Buying and Selling at Owens Corning

In other news, insider Gunner Smith sold 657 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $153.36, for a total transaction of $100,757.52. Following the completion of the transaction, the insider now directly owns 37,587 shares of the company’s stock, valued at approximately $5,764,342.32. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction dated 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 sale, the chief executive officer now directly owns 269,696 shares in the company, valued at approximately $41,417,214.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gunner Smith sold 657 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $153.36, for a total value of $100,757.52. Following the sale, the insider now owns 37,587 shares of the company’s stock, valued at $5,764,342.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,672 shares of company stock valued at $3,325,799. Company insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays lowered shares of 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. Evercore ISI downgraded Owens Corning from an “outperform” rating to an “in-line” rating and cut their target price for the company from $163.00 to $154.00 in a research report on Thursday, February 15th. Truist Financial lifted their price target on Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th. Royal Bank of Canada cut their price objective on Owens Corning from $183.00 to $175.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Finally, UBS Group decreased their target price on Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Eight research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.14.

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.