Owens Corning (NYSE:OC) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in Owens Corning (NYSE:OCFree Report) by 9.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 160,899 shares of the construction company’s stock after acquiring an additional 14,175 shares during the period. Allspring Global Investments Holdings LLC owned 0.18% of Owens Corning worth $26,838,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. LVW Advisors LLC purchased a new position in shares of Owens Corning during the first quarter worth $268,000. Dumont & Blake Investment Advisors LLC purchased a new position in shares of Owens Corning during the first quarter worth $440,000. KRS Capital Management LLC purchased a new position in shares of Owens Corning during the first quarter worth $200,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Owens Corning by 10.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,632 shares of the construction company’s stock worth $1,106,000 after buying an additional 608 shares during the period. Finally, Atlas Capital Advisors LLC boosted its position in shares of Owens Corning by 5.5% during the first quarter. Atlas Capital Advisors LLC now owns 4,396 shares of the construction company’s stock worth $733,000 after buying an additional 229 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Down 1.6 %

OC opened at $165.64 on Friday. The business’s 50-day simple moving average is $175.64 and its 200-day simple moving average is $162.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76. Owens Corning has a one year low of $109.95 and a one year high of $184.00. The stock has a market capitalization of $14.35 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 5.01 and a beta of 1.42.

Owens Corning (NYSE:OCGet Free Report) last posted its earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the firm earned $2.77 earnings per share. The business’s revenue was down 1.3% compared to the same quarter last year. Analysts anticipate that Owens Corning will post 15.48 EPS for the current year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 15th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, July 15th. Owens Corning’s dividend payout ratio is currently 19.43%.

Insider Buying and Selling

In related news, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now owns 31,626 shares of the company’s stock, valued at $5,491,854.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of Owens Corning stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $173.65, for a total value of $520,950.00. Following the sale, the chief financial officer now owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Monaco Nicolas Del sold 3,423 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total value of $604,056.81. Following the sale, the insider now directly owns 11,381 shares in the company, valued at approximately $2,008,405.07. The disclosure for this sale can be found here. Insiders have sold a total of 19,360 shares of company stock valued at $3,437,315 over the last quarter. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OC shares. StockNews.com upgraded Owens Corning from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Loop Capital lifted their target price on Owens Corning from $188.00 to $215.00 and gave the company a “buy” rating in a report on Friday, June 21st. UBS Group lifted their target price on Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $187.00 target price on shares of Owens Corning in a report on Monday, June 17th. Finally, Jefferies Financial Group started coverage on Owens Corning in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $179.00.

Read Our Latest Research Report on OC

Owens Corning Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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