Owens Corning (NYSE:OC) Shares Bought by Greenleaf Trust

Greenleaf Trust lifted its holdings in shares of Owens Corning (NYSE:OC) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,895 shares of the construction company’s stock after buying an additional 56 shares during the period. Greenleaf Trust’s holdings in Owens Corning were worth $663,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Retirement Guys Formula LLC increased its position in Owens Corning by 3.1% during the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after purchasing an additional 58 shares during the period. PFG Investments LLC grew its holdings in Owens Corning by 3.9% during the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after acquiring an additional 68 shares during the period. Tobam raised its position in Owens Corning by 38.0% in the third quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after acquiring an additional 73 shares in the last quarter. First Bank & Trust lifted its holdings in Owens Corning by 2.0% in the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after acquiring an additional 73 shares during the period. Finally, KMG Fiduciary Partners LLC boosted its position in shares of Owens Corning by 1.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock worth $959,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is owned by company insiders.

Owens Corning Stock Performance

NYSE:OC opened at $181.01 on Wednesday. Owens Corning has a 1-year low of $138.70 and a 1-year high of $214.53. The firm has a 50 day simple moving average of $183.43 and a 200-day simple moving average of $178.67. The firm has a market cap of $15.53 billion, a PE ratio of 15.41, a P/E/G ratio of 2.02 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.15 EPS. On average, equities analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were given a dividend of $0.69 per share. The ex-dividend date was Monday, January 6th. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.52%. Owens Corning’s dividend payout ratio is 23.49%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Royal Bank of Canada boosted their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Loop Capital decreased their target price 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, Citigroup lowered their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and an average target price of $201.75.

Owens Corning Company 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.