CoreFirst Bank & Trust Purchases Shares of 880 Owens Corning (NYSE:OC)

CoreFirst Bank & Trust acquired a new stake in shares of Owens Corning (NYSE:OC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 880 shares of the construction company’s stock, valued at approximately $150,000.

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

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.89% of the stock is currently owned by company insiders.

Owens Corning Price Performance

Shares of OC opened at $151.21 on Tuesday. The stock has a market cap of $12.93 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. Owens Corning has a 1 year low of $137.50 and a 1 year high of $214.53. The stock’s 50-day moving average price is $167.19 and its two-hundred day moving average price is $176.71. 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 released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the firm earned $3.21 EPS. Owens Corning’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, equities analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio is currently 37.70%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OC. JPMorgan Chase & Co. lowered their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and set a $212.00 price target on shares of Owens Corning in a research note on Monday, March 17th. UBS Group reduced their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average target price of $204.18.

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.