Cwm LLC Sells 2,278 Shares of Owens Corning (NYSE:OC)

Cwm LLC decreased its position in Owens Corning (NYSE:OC) by 5.7% during the 4th quarter, Holdings Channel reports. The firm owned 37,670 shares of the construction company’s stock after selling 2,278 shares during the period. Cwm LLC’s holdings in Owens Corning were worth $5,584,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in OC. Contravisory Investment Management Inc. bought a new stake in Owens Corning in the fourth quarter valued at $27,000. Bruce G. Allen Investments LLC bought a new stake in Owens Corning in the fourth quarter valued at $27,000. VisionPoint Advisory Group LLC boosted its holdings in Owens Corning by 53.0% in the third quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock valued at $35,000 after acquiring an additional 88 shares in the last quarter. BluePath Capital Management LLC bought a new stake in Owens Corning in the third quarter valued at $36,000. Finally, Blue Trust Inc. boosted its holdings in Owens Corning by 42.2% in the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock valued at $36,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on OC. Citigroup raised their price objective on Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Truist Financial raised their price objective on Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, February 15th. Loop Capital raised their price objective on Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, April 1st. UBS Group lowered their price objective on Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Finally, Evercore ISI lowered Owens Corning from an “outperform” rating to an “in-line” rating and lowered their price objective for the company from $163.00 to $154.00 in a research report on Thursday, February 15th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.14.

Insider Buying and Selling

In related news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the sale, the chief executive officer now directly owns 269,696 shares in the company, valued at approximately $41,417,214.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Owens Corning news, insider Gunner Smith sold 7,442 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the completion of the sale, the insider now directly owns 36,140 shares in the company, valued at approximately $5,384,498.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Chambers sold 9,100 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value of $1,397,487.00. Following the sale, the chief executive officer now owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,672 shares of company stock worth $3,325,799. 0.90% of the stock is owned by corporate insiders.

Owens Corning Price Performance

NYSE OC opened at $167.56 on Wednesday. Owens Corning has a one year low of $98.02 and a one year high of $173.65. The stock has a 50-day moving average of $158.41 and a 200 day moving average of $145.80. The company has a market capitalization of $14.58 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 0.28 and a beta of 1.47. 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 (NYSE:OC) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, topping the consensus estimate of $2.82 by $0.39. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the company earned $2.49 EPS. Owens Corning’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts forecast that Owens Corning will post 13.92 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were issued a $0.60 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.43%. Owens Corning’s payout ratio is 18.29%.

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.