Vontobel Holding Ltd. Increases Stock Position in Owens Corning (NYSE:OC)

Vontobel Holding Ltd. increased its position in Owens Corning (NYSE:OC) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,113 shares of the construction company’s stock after purchasing an additional 105 shares during the quarter. Vontobel Holding Ltd.’s holdings in Owens Corning were worth $906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Lecap Asset Management Ltd. bought a new position in Owens Corning during the 4th quarter valued at $1,791,000. Louisiana State Employees Retirement System bought a new position in Owens Corning during the 4th quarter valued at $3,706,000. Cerity Partners LLC boosted its stake in Owens Corning by 22.4% during the 4th quarter. Cerity Partners LLC now owns 5,160 shares of the construction company’s stock valued at $765,000 after acquiring an additional 945 shares during the last quarter. Soltis Investment Advisors LLC bought a new position in Owens Corning during the 4th quarter valued at $211,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Owens Corning by 26.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 146,724 shares of the construction company’s stock valued at $21,749,000 after acquiring an additional 30,815 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on OC. Royal Bank of Canada dropped their target price on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. JPMorgan Chase & Co. dropped their target price 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. UBS Group dropped their target price on shares of Owens Corning from $175.00 to $169.00 and set a “buy” rating on the stock in a report 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 report on Monday, April 1st. Finally, Truist Financial increased their target price on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus price target of $162.14.

Owens Corning Stock Down 0.3 %

OC stock opened at $160.11 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. Owens Corning has a fifty-two week low of $98.02 and a fifty-two week high of $173.65. The firm’s 50-day simple moving average is $157.70 and its 200 day simple moving average is $145.33. The stock has a market cap of $13.93 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 0.28 and a beta of 1.47.

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, topping analysts’ consensus estimates of $2.82 by $0.39. The business 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%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $2.49 EPS. As a group, sell-side analysts predict that Owens Corning will post 13.77 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were given a $0.60 dividend. 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 presently 18.29%.

Insider Activity at Owens Corning

In related news, insider Gunner Smith sold 7,442 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the transaction, the insider now owns 36,140 shares in the company, valued at approximately $5,384,498.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Paula Russell sold 3,765 shares of Owens Corning 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 transaction, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gunner Smith sold 7,442 shares of Owens Corning stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the completion of the transaction, the insider now directly owns 36,140 shares in the company, valued at approximately $5,384,498.60. The disclosure for this sale can be found here. Insiders sold 21,672 shares of company stock worth $3,325,799 in the last 90 days. Corporate 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.