Owens Corning (NYSE:OC) Shares Purchased by Empower Advisory Group LLC

Empower Advisory Group LLC boosted its holdings in Owens Corning (NYSE:OC) by 1.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 512,049 shares of the construction company’s stock after buying an additional 5,167 shares during the quarter. Empower Advisory Group LLC’s holdings in Owens Corning were worth $87,212,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Truist Financial Corp boosted its stake in Owens Corning by 4.0% in the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company’s stock worth $2,732,000 after purchasing an additional 624 shares during the period. CIBC Asset Management Inc boosted its stake in Owens Corning by 10.6% in the 4th quarter. CIBC Asset Management Inc now owns 3,884 shares of the construction company’s stock worth $662,000 after purchasing an additional 371 shares during the period. Sanctuary Advisors LLC boosted its stake in Owens Corning by 2.6% in the 4th quarter. Sanctuary Advisors LLC now owns 30,919 shares of the construction company’s stock worth $5,266,000 after purchasing an additional 790 shares during the period. Catalyst Capital Advisors LLC boosted its stake in Owens Corning by 419.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 426 shares of the construction company’s stock worth $73,000 after purchasing an additional 344 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Owens Corning by 88.9% in the 4th quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company’s stock worth $66,777,000 after purchasing an additional 184,552 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now owns 11,635 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, insider Gunner Smith sold 17,450 shares of the business’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 transaction, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Owens Corning Stock Up 0.8 %

OC stock opened at $179.44 on Monday. 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 has a 1 year low of $138.70 and a 1 year high of $214.53. The company has a fifty day simple moving average of $179.67 and a 200 day simple moving average of $178.67. The firm has a market cap of $15.39 billion, a PE ratio of 15.27, a PEG ratio of 2.01 and a beta of 1.46.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is presently 23.49%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OC. Evercore ISI raised 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. Citigroup decreased their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada lifted their target price 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. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group lifted 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. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.91.

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.