Xponance Inc. Has $1.62 Million Position in Owens Corning (NYSE:OC)

Xponance Inc. cut its holdings in Owens Corning (NYSE:OC) by 7.2% during the 4th quarter, HoldingsChannel reports. The fund owned 10,896 shares of the construction company’s stock after selling 850 shares during the quarter. Xponance Inc.’s holdings in Owens Corning were worth $1,615,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of OC. Invesco Ltd. grew its stake in Owens Corning by 156.1% during the third quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock worth $202,932,000 after buying an additional 906,782 shares in the last quarter. Pacer Advisors Inc. boosted its position in Owens Corning by 6,116.6% during the 4th quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock worth $123,415,000 after buying an additional 819,201 shares during the period. Federated Hermes Inc. boosted its position in Owens Corning by 1,602.4% during the 3rd quarter. Federated Hermes Inc. now owns 475,539 shares of the construction company’s stock worth $64,868,000 after buying an additional 447,606 shares during the period. Teacher Retirement System of Texas boosted its position in Owens Corning by 226.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 164,252 shares of the construction company’s stock worth $22,406,000 after buying an additional 113,890 shares during the period. Finally, Nordea Investment Management AB boosted its position in Owens Corning by 15.1% during the 4th quarter. Nordea Investment Management AB now owns 717,743 shares of the construction company’s stock worth $106,556,000 after buying an additional 94,185 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Owens Corning

In related news, 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 transaction, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at approximately $41,417,214.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Owens Corning news, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the sale, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, 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. In the last 90 days, insiders sold 21,672 shares of company stock worth $3,325,799. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OC shares. Citigroup lifted their target price on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Barclays downgraded shares of Owens Corning from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $170.00 to $160.00 in a research report on Monday, February 12th. Loop Capital boosted their price target on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Royal Bank of Canada dropped their price target on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Finally, Evercore ISI downgraded shares of Owens Corning from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $163.00 to $154.00 in a research report on Thursday, February 15th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $162.14.

Owens Corning Stock Performance

NYSE:OC opened at $167.56 on Wednesday. The company has a fifty day moving average of $158.41 and a 200-day moving average of $145.80. The firm has a market capitalization of $14.58 billion, a P/E ratio of 12.77, a P/E/G ratio of 0.28 and a beta of 1.47. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. 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 data on Wednesday, February 14th. The construction company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.39. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. Owens Corning’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.49 EPS. As a group, sell-side analysts anticipate that Owens Corning will post 13.92 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.43%. Owens Corning’s dividend payout ratio (DPR) is presently 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.