Owens Corning (NYSE:OC) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Owens Corning (NYSE:OC) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,130 shares of the construction company’s stock after purchasing an additional 67 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Owens Corning were worth $1,205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new position in Owens Corning during the fourth quarter worth about $27,000. Bruce G. Allen Investments LLC acquired a new position in Owens Corning during the fourth quarter worth about $27,000. VisionPoint Advisory Group LLC raised its position in Owens Corning by 53.0% during the third quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock worth $35,000 after acquiring an additional 88 shares during the last quarter. BluePath Capital Management LLC acquired a new position in Owens Corning during the third quarter worth about $36,000. Finally, Blue Trust Inc. raised its position 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 acquiring an additional 78 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OC. Loop Capital lifted their target price on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Truist Financial boosted their price objective on shares of Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, February 15th. Citigroup boosted their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. UBS Group boosted their price objective on shares of Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada boosted their price objective on shares of Owens Corning from $175.00 to $192.00 and gave the company an “outperform” rating in a research report on Thursday. Eight research 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $168.21.

Insider Activity at Owens Corning

In related news, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction on 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 directly 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 21,672 shares of company stock valued at $3,325,799 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Trading Down 0.1 %

NYSE OC opened at $165.02 on Friday. The company’s fifty day simple moving average is $158.86 and its 200-day simple moving average is $145.94. Owens Corning has a 52 week low of $98.02 and a 52 week high of $173.65. The company has a current ratio of 1.76, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock has a market cap of $14.36 billion, a P/E ratio of 13.36, a PEG ratio of 6.98 and a beta of 1.47.

Owens Corning (NYSE:OC) 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 net margin of 11.53% and a return on equity of 26.52%. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the company posted $2.77 earnings per share. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts predict that Owens Corning will post 13.92 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were issued a $0.60 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.45%. Owens Corning’s dividend payout ratio is presently 19.43%.

Owens Corning 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.