Cookson Peirce & Co. Inc. Boosts Stock Position in Owens Corning (NYSE:OC)

Cookson Peirce & Co. Inc. lifted its position in Owens Corning (NYSE:OC) by 7.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,351 shares of the construction company’s stock after purchasing an additional 382 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Owens Corning were worth $911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OC. Truist Financial Corp lifted its stake in shares of 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 acquiring an additional 624 shares during the last quarter. Alpha DNA Investment Management LLC lifted its stake in shares of Owens Corning by 147.4% in 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 increased 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 buying an additional 200 shares in the last quarter. Penserra Capital Management LLC increased its position 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 valued at $832,000 after buying an additional 1,643 shares in the last quarter. Finally, Atria Investments Inc increased its position in Owens Corning by 93.3% during the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock valued at $2,330,000 after buying an additional 6,373 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Owens Corning Trading Up 3.4 %

OC opened at $148.95 on Thursday. The stock has a market cap of $12.74 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.88 and a beta of 1.52. The stock’s 50 day moving average price is $174.41 and its 200-day moving average price is $178.71. Owens Corning has a one year low of $140.94 and a one year high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

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

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.85%. Owens Corning’s dividend payout ratio is 37.70%.

Wall Street Analysts Forecast Growth

OC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday. Barclays lowered their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group lifted their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Loop Capital lowered their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Monday. 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.18.

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.