Mackenzie Financial Corp Has $5.87 Million Stock Position in Owens Corning (NYSE:OC)

Mackenzie Financial Corp reduced its holdings in Owens Corning (NYSE:OC) by 53.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 39,596 shares of the construction company’s stock after selling 45,341 shares during the quarter. Mackenzie Financial Corp’s holdings in Owens Corning were worth $5,869,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OC. Contravisory Investment Management Inc. bought a new stake in shares of Owens Corning in the 4th quarter valued at $27,000. Bruce G. Allen Investments LLC bought a new stake in shares of Owens Corning in the 4th quarter valued at $27,000. First Capital Advisors Group LLC. bought a new stake in shares of Owens Corning in the 2nd quarter valued at $31,000. IFP Advisors Inc boosted its stake in shares of Owens Corning by 78.1% in the 2nd quarter. IFP Advisors Inc now owns 244 shares of the construction company’s stock valued at $32,000 after purchasing an additional 107 shares during the last quarter. Finally, Power Corp of Canada bought a new stake in shares of Owens Corning in the 1st quarter valued at $34,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Performance

Shares of OC stock opened at $160.11 on Friday. The firm has a 50-day moving average of $157.70 and a 200-day moving average of $145.24. The company has a market cap of $13.93 billion, a P/E ratio of 12.20, 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 has a one year low of $98.02 and a one year high of $173.65.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, February 14th. The construction company reported $3.21 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the company posted $2.49 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts forecast that Owens Corning will post 13.77 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend 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 (DPR) is presently 18.29%.

Wall Street Analyst Weigh In

OC has been the topic of several research analyst reports. Citigroup increased their target price on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Evercore ISI lowered shares of Owens Corning from an “outperform” rating to an “in-line” rating and cut their target price for the stock from $163.00 to $154.00 in a research note on Thursday, February 15th. Royal Bank of Canada cut their target price on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Loop Capital increased their target price on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 20th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.14.

Insider Buying and Selling

In related news, CEO Brian Chambers sold 9,100 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 269,696 shares in the company, valued at $41,417,214.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the stock in a transaction dated Thursday, March 14th. The shares were 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 owns 20,419 shares in the company, valued at $3,307,878. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Chambers sold 9,100 shares of the stock in a transaction dated 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 owns 269,696 shares of the company’s stock, valued at approximately $41,417,214.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,672 shares of company stock worth $3,325,799. Insiders own 0.89% of the company’s stock.

About Owens Corning

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.