Xponance Inc. Purchases 1,448 Shares of Owens Corning (NYSE:OC)

Xponance Inc. grew its position in Owens Corning (NYSE:OC) by 9.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,003 shares of the construction company’s stock after acquiring an additional 1,448 shares during the period. Xponance Inc.’s holdings in Owens Corning were worth $2,726,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Generali Asset Management SPA SGR bought a new position in Owens Corning during the 4th quarter worth $2,523,000. Signaturefd LLC raised its position in Owens Corning by 53.2% during the 4th quarter. Signaturefd LLC now owns 1,529 shares of the construction company’s stock worth $260,000 after purchasing an additional 531 shares during the last quarter. Parallel Advisors LLC raised its position in Owens Corning by 2.5% during the 4th quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock worth $439,000 after purchasing an additional 62 shares during the last quarter. Gallacher Capital Management LLC bought a new position in Owens Corning during the 4th quarter worth $216,000. Finally, Corient Private Wealth LLC raised its position in Owens Corning by 9.0% during the 4th quarter. Corient Private Wealth LLC now owns 35,503 shares of the construction company’s stock worth $6,047,000 after purchasing an additional 2,935 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Price Performance

Shares of NYSE OC opened at $144.49 on Friday. Owens Corning has a twelve month low of $137.50 and a twelve month high of $214.53. The stock’s 50 day moving average price is $167.56 and its 200-day moving average price is $176.53. The company has a market capitalization of $12.36 billion, a PE ratio of 12.30, a PEG ratio of 1.88 and a beta of 1.52. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.21 EPS. On average, equities analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.91%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

OC has been the subject of several research analyst reports. Loop Capital lowered their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $212.00 price objective on shares of Owens Corning in a research report on Monday, March 17th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. UBS Group reduced their target price on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Finally, Citigroup reduced their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and an average target price of $204.18.

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.