Owens Corning (NYSE:OC) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its holdings in Owens Corning (NYSE:OC) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,606 shares of the construction company’s stock after selling 319 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Owens Corning were worth $784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OC. Truist Financial Corp increased its holdings in shares of Owens Corning by 4.0% in the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company’s stock valued at $2,732,000 after purchasing an additional 624 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Owens Corning by 3.1% in the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock valued at $1,189,000 after buying an additional 200 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of Owens Corning by 53.3% during the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after acquiring an additional 1,643 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Owens Corning by 88.9% during the 4th quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company’s stock worth $66,777,000 after acquiring an additional 184,552 shares in the last quarter. Finally, Empower Advisory Group LLC grew its holdings in shares of Owens Corning by 1.0% in the 4th quarter. Empower Advisory Group LLC now owns 512,049 shares of the construction company’s stock worth $87,212,000 after acquiring an additional 5,167 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated 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 directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Stock Performance

Owens Corning stock opened at $151.21 on Tuesday. The stock has a fifty day moving average price of $167.19 and a 200 day moving average price of $176.71. Owens Corning has a 52 week low of $137.50 and a 52 week high of $214.53. The firm has a market capitalization of $12.93 billion, a P/E ratio of 12.87, a PEG ratio of 1.88 and a beta of 1.52. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 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 the consensus estimate of $2.88 billion. During the same quarter in the prior year, the company posted $3.21 EPS. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. Equities research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.83%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Citigroup decreased their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $212.00 price objective on shares of Owens Corning in a research note on Monday, March 17th. JPMorgan Chase & Co. cut their target price on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Barclays lowered their price target on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Loop Capital reduced their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $204.18.

About Owens Corning

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.