Owens Corning (NYSE:OC) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp lessened its position in Owens Corning (NYSE:OC) by 25.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,016 shares of the construction company’s stock after selling 5,160 shares during the period. Hancock Whitney Corp’s holdings in Owens Corning were worth $2,505,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Tidal Investments LLC increased its stake in Owens Corning by 76.1% during the 1st quarter. Tidal Investments LLC now owns 12,044 shares of the construction company’s stock valued at $2,009,000 after buying an additional 5,205 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in Owens Corning during the 1st quarter valued at about $305,000. Virtus Investment Advisers Inc. increased its stake in Owens Corning by 115.0% during the 1st quarter. Virtus Investment Advisers Inc. now owns 860 shares of the construction company’s stock valued at $143,000 after buying an additional 460 shares during the period. Janus Henderson Group PLC increased its stake in Owens Corning by 371.5% during the 1st quarter. Janus Henderson Group PLC now owns 35,355 shares of the construction company’s stock valued at $5,897,000 after buying an additional 27,856 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Owens Corning in the 1st quarter worth approximately $1,501,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Transactions at Owens Corning

In related news, VP Mari Doerfler sold 240 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total transaction of $43,692.00. Following the completion of the transaction, the vice president now directly owns 4,954 shares in the company, valued at approximately $901,875.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Marcio A. Sandri sold 9,697 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $178.00, for a total transaction of $1,726,066.00. Following the completion of the transaction, the insider now directly owns 62,895 shares in the company, valued at approximately $11,195,310. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Mari Doerfler sold 240 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total transaction of $43,692.00. Following the completion of the transaction, the vice president now owns 4,954 shares of the company’s stock, valued at approximately $901,875.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,360 shares of company stock worth $3,437,315. 0.89% of the stock is owned by insiders.

Analyst Ratings Changes

OC has been the topic of several recent research reports. Argus lifted their price objective on shares of Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Loop Capital lifted their price objective on shares of Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Citigroup raised shares of Owens Corning from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $178.00 to $191.00 in a research note on Thursday, July 11th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $187.00 target price on shares of Owens Corning in a report on Monday, June 17th. Finally, Barclays decreased their target price on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $183.92.

Owens Corning Stock Down 2.3 %

OC traded down $4.23 on Thursday, reaching $182.15. 397,998 shares of the company traded hands, compared to its average volume of 656,295. The stock’s 50 day moving average price is $175.74 and its 200-day moving average price is $165.59. Owens Corning has a 52-week low of $109.95 and a 52-week high of $191.13. The company has a market cap of $15.79 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 15th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Monday, July 15th. Owens Corning’s payout ratio is 19.43%.

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.