Oregon Public Employees Retirement Fund Has $2.98 Million Holdings in Owens Corning (NYSE:OC)

Oregon Public Employees Retirement Fund decreased its holdings in shares of Owens Corning (NYSE:OC) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,479 shares of the construction company’s stock after selling 236 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Owens Corning were worth $2,977,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning during the 4th quarter worth about $28,000. Venturi Wealth Management LLC raised its holdings in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in Owens Corning during the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB grew its stake in Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after purchasing an additional 122 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Owens Corning during the 3rd quarter worth approximately $38,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

NYSE:OC opened at $151.86 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock has a 50 day simple moving average of $175.72 and a 200 day simple moving average of $178.65. Owens Corning has a 1-year low of $148.62 and a 1-year high of $214.53. The stock has a market cap of $13.03 billion, a P/E ratio of 12.92, a PEG ratio of 1.88 and a beta of 1.46.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the business posted $3.21 earnings per share. Owens Corning’s quarterly revenue was up 23.3% on a year-over-year basis. Research analysts anticipate that Owens Corning will post 15.49 earnings per share 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 issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.82%. Owens Corning’s dividend payout ratio is presently 23.49%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OC. The Goldman Sachs Group raised their target price on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI boosted their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Royal Bank of Canada dropped their target price on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a report on Tuesday. Loop Capital lowered their price target 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, UBS Group cut their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.00.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

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.