Owens Corning (NYSE:OC) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. grew its position in shares of Owens Corning (NYSE:OC) by 11.6% during the fourth quarter, Holdings Channel reports. The firm owned 530,802 shares of the construction company’s stock after acquiring an additional 55,263 shares during the quarter. Federated Hermes Inc.’s holdings in Owens Corning were worth $78,681,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Contravisory Investment Management Inc. purchased a new position in Owens Corning in the fourth quarter valued at $27,000. Bruce G. Allen Investments LLC purchased a new position in Owens Corning in the fourth quarter valued at $27,000. Financial Management Professionals Inc. purchased a new position in Owens Corning in the third quarter valued at $29,000. First Capital Advisors Group LLC. purchased a new position in Owens Corning in the second quarter valued at $31,000. Finally, IFP Advisors Inc increased its holdings in Owens Corning by 78.1% in the second quarter. IFP Advisors Inc now owns 244 shares of the construction company’s stock valued at $32,000 after buying an additional 107 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Owens Corning

In other Owens Corning news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at approximately $41,417,214.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Gunner Smith sold 7,442 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 36,140 shares of the company’s stock, valued at approximately $5,384,498.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction on 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 transaction, the chief executive officer now owns 269,696 shares in the company, valued at approximately $41,417,214.72. The disclosure for this sale can be found here. Insiders sold a total of 21,672 shares of company stock valued at $3,325,799 in the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

OC stock opened at $160.46 on Friday. The firm has a 50 day moving average of $157.46 and a 200-day moving average of $144.96. Owens Corning has a 12-month low of $98.02 and a 12-month high of $173.65. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The company has a market cap of $13.96 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.28 and a beta of 1.47.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $3.21 earnings per share (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 during the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the firm earned $2.49 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts expect that Owens Corning will post 13.77 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders 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 dividend yield of 1.50%. Owens Corning’s dividend payout ratio (DPR) is 18.29%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Royal Bank of Canada dropped their price objective on Owens Corning from $183.00 to $175.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Citigroup raised their price objective on Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Loop Capital raised their price objective on Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, April 1st. JPMorgan Chase & Co. lowered their price target on Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 20th. Finally, UBS Group lowered their price target on Owens Corning from $175.00 to $169.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.14.

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.