Marietta Investment Partners LLC Has $4.92 Million Stock Position in Owens Corning (NYSE:OC)

Marietta Investment Partners LLC reduced its stake in shares of Owens Corning (NYSE:OC) by 3.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 28,911 shares of the construction company’s stock after selling 1,185 shares during the quarter. Owens Corning makes up 1.1% of Marietta Investment Partners LLC’s holdings, making the stock its 29th largest holding. Marietta Investment Partners LLC’s holdings in Owens Corning were worth $4,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of OC. Truist Financial Corp increased its holdings in Owens Corning by 4.0% in the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company’s stock valued at $2,732,000 after buying an additional 624 shares during the period. Alpha DNA Investment Management LLC lifted its position 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 valued at $754,000 after purchasing an additional 2,544 shares during the period. Janus Henderson Group PLC raised its position in shares of Owens Corning by 3.1% in the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock valued at $1,189,000 after acquiring an additional 200 shares during the period. Penserra Capital Management LLC increased its stake in Owens Corning by 53.3% during the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock worth $832,000 after purchasing an additional 1,643 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Owens Corning by 88.9% during the 4th quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company’s stock worth $66,777,000 after purchasing an additional 184,552 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

OC has been the subject of several research reports. Barclays decreased their price target 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. UBS Group cut their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Loop Capital dropped their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $144.49 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 firm has a market capitalization of $12.36 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The business’s 50-day moving average price is $167.56 and its 200-day moving average price is $176.53. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53.

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

Owens Corning Dividend Announcement

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

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.