Owens Corning (NYSE:OC) Shares Sold by Kapitalo Investimentos Ltda

Kapitalo Investimentos Ltda reduced its holdings in Owens Corning (NYSE:OC) by 85.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 531 shares of the construction company’s stock after selling 3,044 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Owens Corning were worth $79,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Pacer Advisors Inc. boosted its holdings in Owens Corning by 6,116.6% during the fourth quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock worth $123,415,000 after buying an additional 819,201 shares in the last quarter. Norges Bank acquired a new stake in shares of Owens Corning in the 4th quarter worth approximately $118,251,000. Federated Hermes Inc. grew its holdings in shares of Owens Corning by 1,602.4% in the 3rd quarter. Federated Hermes Inc. now owns 475,539 shares of the construction company’s stock worth $64,868,000 after acquiring an additional 447,606 shares during the period. Bank of Nova Scotia increased its stake in Owens Corning by 9,571.1% in the 4th quarter. Bank of Nova Scotia now owns 143,616 shares of the construction company’s stock valued at $21,287,000 after purchasing an additional 142,131 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position 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 purchasing an additional 94,185 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 3,423 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total transaction of $604,056.81. Following the completion of the sale, the insider now owns 11,381 shares of the company’s stock, valued at approximately $2,008,405.07. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Monaco Nicolas Del sold 3,423 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total transaction of $604,056.81. Following the completion of the sale, the insider now directly owns 11,381 shares of the company’s stock, valued at approximately $2,008,405.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $180.85, for a total value of $542,550.00. Following the completion of the transaction, the chief financial officer now directly owns 34,626 shares in the company, valued at $6,262,112.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,360 shares of company stock worth $2,916,365. 0.89% of the stock is currently owned by company insiders.

Owens Corning Stock Performance

Shares of OC stock opened at $175.63 on Friday. The firm has a market capitalization of $15.22 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 5.34 and a beta of 1.46. The company has a 50 day moving average price of $174.04 and a 200 day moving average price of $160.11. Owens Corning has a one year low of $109.95 and a one year high of $184.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.22 and a current ratio of 1.76.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the firm posted $2.77 EPS. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. Sell-side analysts anticipate that Owens Corning will post 15.48 EPS for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 15th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.37%. Owens Corning’s dividend payout ratio is currently 19.43%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Citigroup lifted their price target on Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. StockNews.com cut shares of Owens Corning from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Loop Capital upped their price target on shares of Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a report on Monday, April 1st. The Goldman Sachs Group reissued a “neutral” rating and set a $187.00 price objective on shares of Owens Corning in a research note on Monday. Finally, UBS Group upped their target price on Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $177.07.

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.