Bleakley Financial Group LLC Sells 711 Shares of Owens Corning (NYSE:OC)

Bleakley Financial Group LLC decreased its holdings in shares of Owens Corning (NYSE:OC) by 32.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,483 shares of the construction company’s stock after selling 711 shares during the period. Bleakley Financial Group LLC’s holdings in Owens Corning were worth $220,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in OC. Norges Bank bought a new stake in Owens Corning during the fourth quarter valued at $111,343,000. Invesco Ltd. lifted its stake in Owens Corning by 156.1% during the third quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock worth $202,932,000 after purchasing an additional 906,782 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Owens Corning by 6,116.6% during the fourth quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock worth $123,415,000 after purchasing an additional 819,201 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Owens Corning by 878.0% during the first quarter. Envestnet Asset Management Inc. now owns 623,176 shares of the construction company’s stock worth $5,861,000 after purchasing an additional 559,459 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Owens Corning by 1,602.4% during the third quarter. Federated Hermes Inc. now owns 475,539 shares of the construction company’s stock worth $64,868,000 after purchasing an additional 447,606 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In related news, CEO Brian Chambers sold 9,100 shares of the business’s 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 in the company, valued at approximately $41,417,214.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 269,696 shares in the company, valued at approximately $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 90 days. Company insiders own 0.90% of the company’s stock.

Owens Corning Stock Down 0.2 %

Shares of NYSE:OC opened at $163.54 on Wednesday. Owens Corning has a 1 year low of $98.00 and a 1 year high of $173.65. The company has a market cap of $14.23 billion, a PE ratio of 12.46, a P/E/G ratio of 0.29 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. The stock’s 50-day moving average is $157.35 and its 200 day moving average is $144.72.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, February 14th. The construction company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.39. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the business earned $2.49 EPS. Owens Corning’s revenue was up .8% compared to the same quarter last year. Sell-side analysts anticipate that Owens Corning will post 13.77 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently declared 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 was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.47%. Owens Corning’s dividend payout ratio is presently 18.29%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday, February 20th. Barclays lowered Owens Corning from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $170.00 to $160.00 in a research note on Monday, February 12th. Royal Bank of Canada dropped their price target 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 dropped their price target for the stock from $163.00 to $154.00 in a research note on Thursday, February 15th. Finally, UBS Group dropped their price target on Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $162.14.

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.