Owens Corning (NYSE:OC) Shares Purchased by Greenleaf Trust

Greenleaf Trust grew its holdings in Owens Corning (NYSE:OC) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,895 shares of the construction company’s stock after purchasing an additional 56 shares during the quarter. Greenleaf Trust’s holdings in Owens Corning were worth $663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning lifted its position in shares of Owens Corning by 10.1% during the second quarter. Creative Planning now owns 8,410 shares of the construction company’s stock worth $1,461,000 after purchasing an additional 772 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Owens Corning by 215.1% in the 2nd quarter. NewEdge Advisors LLC now owns 5,568 shares of the construction company’s stock worth $967,000 after buying an additional 3,801 shares in the last quarter. Truist Financial Corp boosted its position in Owens Corning by 17.3% in the 2nd quarter. Truist Financial Corp now owns 25,937 shares of the construction company’s stock valued at $4,506,000 after buying an additional 3,816 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Owens Corning by 18.8% during the second quarter. Cetera Investment Advisers now owns 15,170 shares of the construction company’s stock valued at $2,635,000 after acquiring an additional 2,405 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its position in shares of Owens Corning by 2.1% during the third quarter. Atomi Financial Group Inc. now owns 5,928 shares of the construction company’s stock worth $1,046,000 after acquiring an additional 124 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. UBS Group lifted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Citigroup reduced their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Finally, Evercore ISI lifted their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.75.

Owens Corning Stock Performance

OC stock opened at $181.01 on Wednesday. The stock’s fifty day moving average is $183.43 and its two-hundred day moving average is $178.67. The stock has a market capitalization of $15.53 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 2.02 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning’s revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the business posted $4.15 EPS. On average, research analysts predict that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were given a $0.69 dividend. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.52%. The ex-dividend date was Monday, January 6th. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.

Insider Buying and Selling at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the transaction, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.90% of the stock is owned by company insiders.

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.