Swedbank AB Sells 14,605 Shares of Owens Corning (NYSE:OC)

Swedbank AB trimmed its position in shares of Owens Corning (NYSE:OC) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 318,841 shares of the construction company’s stock after selling 14,605 shares during the quarter. Swedbank AB owned approximately 0.37% of Owens Corning worth $54,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in OC. Creative Planning grew its stake in Owens Corning by 10.1% during the second quarter. Creative Planning now owns 8,410 shares of the construction company’s stock worth $1,461,000 after buying an additional 772 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Owens Corning by 215.1% during the second quarter. NewEdge Advisors LLC now owns 5,568 shares of the construction company’s stock valued at $967,000 after purchasing an additional 3,801 shares during the last quarter. Quarry LP grew its stake in shares of Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after purchasing an additional 144 shares during the last quarter. Truist Financial Corp grew its stake in shares of Owens Corning by 17.3% during the second quarter. Truist Financial Corp now owns 25,937 shares of the construction company’s stock valued at $4,506,000 after purchasing an additional 3,816 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Owens Corning by 18.8% during the second quarter. Cetera Investment Advisers now owns 15,170 shares of the construction company’s stock valued at $2,635,000 after purchasing an additional 2,405 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on OC. UBS Group increased their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada increased their price target on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Evercore ISI increased their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $201.75.

Insider Buying and Selling

In related news, insider Gunner Smith sold 17,450 shares of the firm’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 sale, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.89% of the stock is currently owned by company insiders.

Owens Corning Trading Down 2.1 %

OC opened at $187.22 on Thursday. The firm’s fifty day moving average is $185.09 and its two-hundred day moving average is $178.40. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market cap of $16.06 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 2.05 and a beta of 1.46. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the business posted $4.15 earnings per share. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. Equities research analysts anticipate that Owens Corning will post 15.47 EPS for the current year.

Owens Corning Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.47%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, January 6th. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

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.