30,741 Shares in Owens Corning (NYSE:OC) Acquired by Ruffer LLP

Ruffer LLP purchased a new position in shares of Owens Corning (NYSE:OC) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 30,741 shares of the construction company’s stock, valued at approximately $5,236,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Truist Financial Corp lifted its stake in shares of Owens Corning by 4.0% during the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company’s stock worth $2,732,000 after acquiring an additional 624 shares during the last quarter. Alpha DNA Investment Management LLC increased its holdings in Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after purchasing an additional 2,544 shares during the period. Janus Henderson Group PLC raised its position in Owens Corning by 3.1% during the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock valued at $1,189,000 after purchasing an additional 200 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Owens Corning by 53.3% in the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock worth $832,000 after buying an additional 1,643 shares during the period. Finally, Atria Investments Inc grew its position in shares of Owens Corning by 93.3% during the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after buying an additional 6,373 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

Owens Corning Price Performance

Shares of NYSE OC opened at $144.54 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The business has a 50 day simple moving average of $172.91 and a 200-day simple moving average of $178.27. Owens Corning has a twelve month low of $140.94 and a twelve month high of $214.53. The company has a market capitalization of $12.36 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last released its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the business earned $3.21 earnings per share. The business’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, equities research analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is currently 37.70%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on OC shares. Barclays lowered their price objective on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their price objective on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Citigroup lowered their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company decreased their price target on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.18.

Insider Activity

In related news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently 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.