Owens Corning (NYSE:OC) Shares Sold by Duality Advisers LP

Duality Advisers LP trimmed its position in shares of Owens Corning (NYSE:OC) by 77.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,397 shares of the construction company’s stock after selling 8,314 shares during the quarter. Duality Advisers LP’s holdings in Owens Corning were worth $355,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new stake in Owens Corning during the fourth quarter worth about $27,000. Bruce G. Allen Investments LLC purchased a new stake in Owens Corning during the fourth quarter worth about $27,000. VisionPoint Advisory Group LLC boosted its holdings in Owens Corning by 53.0% during 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 in the last quarter. Blue Trust Inc. boosted its holdings in Owens Corning by 42.2% during 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 in the last quarter. Finally, BluePath Capital Management LLC purchased a new stake in Owens Corning during the third quarter worth about $36,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Owens Corning

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 directly 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 accessible through this hyperlink. In related news, insider Gunner Smith sold 657 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $153.36, for a total transaction of $100,757.52. Following the transaction, the insider now directly owns 37,587 shares of the company’s stock, valued at $5,764,342.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were 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 in the company, 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 ninety days. Corporate insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

OC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 20th. Loop Capital boosted their price objective on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Truist Financial boosted their price objective 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. UBS Group upped their price target on shares of Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a report on Thursday. Finally, Citigroup upped their price target on shares of Owens Corning from $150.00 to $169.00 and gave the company 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $168.21.

Owens Corning Stock Performance

Owens Corning stock opened at $168.55 on Friday. The firm’s 50 day simple moving average is $159.88 and its 200-day simple moving average is $146.32. The company has a market cap of $14.61 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 6.97 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.17. Owens Corning has a fifty-two week low of $99.49 and a fifty-two week high of $173.65.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.55. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm posted $2.77 earnings per share. As a group, equities research analysts predict that Owens Corning will post 13.92 EPS for the current year.

Owens Corning Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is currently 19.43%.

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.