Cerity Partners LLC Grows Stake in Owens Corning (NYSE:OC)

Cerity Partners LLC raised its position in Owens Corning (NYSE:OC) by 22.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,160 shares of the construction company’s stock after buying an additional 945 shares during the period. Cerity Partners LLC’s holdings in Owens Corning were worth $765,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Contravisory Investment Management Inc. purchased a new stake in Owens Corning during the 4th quarter valued at about $27,000. Bruce G. Allen Investments LLC acquired a new position in Owens Corning during the fourth quarter worth $27,000. VisionPoint Advisory Group LLC boosted its position in shares of Owens Corning by 53.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock valued at $35,000 after acquiring an additional 88 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in Owens Corning during the third quarter worth about $36,000. Finally, Blue Trust Inc. raised its stake in Owens Corning by 42.2% during the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after purchasing an additional 78 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OC. Citigroup raised their price target on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Royal Bank of Canada cut 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. Evercore ISI lowered Owens Corning from an “outperform” rating to an “in-line” rating and decreased their price target for the company from $163.00 to $154.00 in a research note on Thursday, February 15th. Barclays lowered shares of Owens Corning from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $170.00 to $160.00 in a report on Monday, February 12th. 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 research note on Thursday, February 15th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.14.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief executive officer now owns 269,696 shares in the company, valued at approximately $41,417,214.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Chambers sold 9,100 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 21,672 shares of company stock worth $3,325,799 in the last quarter. 0.90% of the stock is owned by company insiders.

Owens Corning Trading Up 1.9 %

NYSE OC opened at $167.56 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.69. The firm has a market cap of $14.58 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 0.28 and a beta of 1.47. The firm has a 50 day simple moving average of $158.41 and a 200-day simple moving average of $145.80. Owens Corning has a one year low of $98.02 and a one year high of $173.65.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, February 14th. The construction company reported $3.21 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 last year, the company posted $2.49 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Equities research analysts anticipate that Owens Corning will post 13.77 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.43%. Owens Corning’s payout ratio is 18.29%.

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.