Owens Corning (NYSE:OC) Position Decreased by Greenleaf Trust

Greenleaf Trust decreased its holdings in shares of Owens Corning (NYSE:OC) by 11.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,987 shares of the construction company’s stock after selling 541 shares during the period. Greenleaf Trust’s holdings in Owens Corning were worth $591,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new position in shares of Owens Corning in the fourth quarter worth about $27,000. Bruce G. Allen Investments LLC acquired a new position in shares of Owens Corning in the fourth quarter worth about $27,000. VisionPoint Advisory Group LLC boosted its holdings in shares of Owens Corning by 53.0% in the third quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock worth $35,000 after buying an additional 88 shares during the period. Blue Trust Inc. boosted its holdings in shares of Owens Corning by 42.2% in the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after buying an additional 78 shares during the period. Finally, BluePath Capital Management LLC acquired a new position in shares of Owens Corning in the third quarter worth about $36,000. Institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

OC has been the subject of several recent analyst reports. Truist Financial raised their target price on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. Evercore ISI cut shares of Owens Corning from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $163.00 to $154.00 in a report on Thursday, February 15th. Royal Bank of Canada decreased their price target on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. JPMorgan Chase & Co. decreased their price target on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Finally, Citigroup raised their price target on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.14.

Insider Activity

In other news, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction that occurred 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 transaction, the executive vice president now owns 20,419 shares of the company’s stock, valued at $3,307,878. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Gunner Smith sold 7,442 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the completion of the transaction, the insider now directly owns 36,140 shares of the company’s stock, valued at approximately $5,384,498.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the transaction, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The disclosure for this sale can be found here. Insiders have sold a total of 21,672 shares of company stock valued at $3,325,799 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

Owens Corning Price Performance

Shares of OC opened at $164.44 on Tuesday. The firm has a market cap of $14.31 billion, a PE ratio of 12.53, a PEG ratio of 0.28 and a beta of 1.47. The firm’s 50 day moving average price is $158.00 and its 200 day moving average price is $145.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.69. Owens Corning has a twelve month low of $98.02 and a twelve month high of $173.65.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.39. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the firm posted $2.49 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts expect that Owens Corning will post 13.77 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Monday, March 4th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, March 1st. Owens Corning’s dividend payout ratio is 18.29%.

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.