Owens Corning (NYSE:OC) Shares Sold by Cozad Asset Management Inc.

Cozad Asset Management Inc. reduced its stake in shares of Owens Corning (NYSE:OC) by 1.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 48,121 shares of the construction company’s stock after selling 880 shares during the quarter. Cozad Asset Management Inc.’s holdings in Owens Corning were worth $7,133,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in shares of Owens Corning by 156.1% in the third quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock valued at $202,932,000 after acquiring an additional 906,782 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Owens Corning by 6,116.6% in the fourth quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock valued at $123,415,000 after acquiring an additional 819,201 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Owens Corning by 1,602.4% in the third quarter. Federated Hermes Inc. now owns 475,539 shares of the construction company’s stock valued at $64,868,000 after acquiring an additional 447,606 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Owens Corning by 226.1% in the third quarter. Teacher Retirement System of Texas now owns 164,252 shares of the construction company’s stock valued at $22,406,000 after acquiring an additional 113,890 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Owens Corning by 15.1% during the fourth quarter. Nordea Investment Management AB now owns 717,743 shares of the construction company’s stock worth $106,556,000 after buying an additional 94,185 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on OC shares. Evercore ISI boosted their price objective on shares of Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a report on Thursday, April 25th. Loop Capital boosted their price objective on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Truist Financial boosted their price objective on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. JPMorgan Chase & Co. decreased their price objective on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 20th. Finally, Barclays cut shares of Owens Corning from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $170.00 to $160.00 in a research report on Monday, February 12th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $168.21.

Insider Activity

In other news, insider Gunner Smith sold 7,442 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the transaction, the insider now directly owns 36,140 shares in the company, valued at $5,384,498.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Gunner Smith sold 7,442 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the sale, the insider now directly owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the sale, 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. Over the last three months, insiders sold 21,672 shares of company stock worth $3,325,799. 0.90% of the stock is currently owned by company insiders.

Owens Corning Trading Down 1.4 %

Shares of NYSE:OC traded down $2.43 during trading on Tuesday, reaching $169.25. The stock had a trading volume of 104,127 shares, 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 quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. The stock has a market cap of $14.67 billion, a P/E ratio of 13.89, a PEG ratio of 5.27 and a beta of 1.47. Owens Corning has a fifty-two week low of $103.41 and a fifty-two week high of $173.65.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping 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 analyst estimates of $2.28 billion. During the same quarter in the prior year, the business posted $2.77 earnings per share. Owens Corning’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, analysts anticipate that Owens Corning will post 14.74 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

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

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.