Cozad Asset Management Inc. Cuts Holdings in Owens Corning (NYSE:OC)

Cozad Asset Management Inc. trimmed its holdings in shares of Owens Corning (NYSE:OC) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,121 shares of the construction company’s stock after selling 880 shares during the period. Cozad Asset Management Inc. owned approximately 0.05% of Owens Corning worth $7,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. LSV Asset Management boosted its stake in shares of Owens Corning by 0.9% in the 3rd quarter. LSV Asset Management now owns 2,256,436 shares of the construction company’s stock worth $307,800,000 after buying an additional 19,590 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Owens Corning by 156.1% in the 3rd 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 during the last quarter. Northern Trust Corp boosted its stake in shares of Owens Corning by 4.9% in the 3rd quarter. Northern Trust Corp now owns 1,014,106 shares of the construction company’s stock worth $138,334,000 after buying an additional 47,212 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Owens Corning by 6,116.6% in 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 last quarter. Finally, Nordea Investment Management AB raised its holdings in Owens Corning by 15.1% in the 4th quarter. Nordea Investment Management AB now owns 717,743 shares of the construction company’s stock worth $106,556,000 after purchasing an additional 94,185 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Evercore ISI raised their price target on Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a report on Thursday, April 25th. Truist Financial raised their price target on Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a report on Thursday, February 15th. Loop Capital raised their price target on Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a report on Monday, April 1st. Royal Bank of Canada raised their price target on Owens Corning from $175.00 to $192.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Finally, Barclays lowered Owens Corning from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $170.00 to $160.00 in a research report on Monday, February 12th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $168.21.

Owens Corning Trading Down 1.4 %

Shares of NYSE:OC traded down $2.43 during trading hours on Tuesday, hitting $169.25. 104,127 shares of the company’s stock traded hands, compared to its average volume of 668,514. The business has a fifty day moving average price of $160.52 and a 200-day moving average price of $146.78. 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 has a 1 year low of $103.41 and a 1 year high of $173.65. The firm has a market capitalization of $14.67 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 5.27 and a beta of 1.47.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.55. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the firm posted $2.77 earnings per share. The company’s revenue was down 1.3% on a year-over-year basis. Equities analysts expect that Owens Corning will post 14.74 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

Insider Buying and Selling

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

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.