New York State Common Retirement Fund Sells 3,000 Shares of Owens Corning (NYSE:OC)

New York State Common Retirement Fund reduced its holdings in Owens Corning (NYSE:OC) by 7.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,910 shares of the construction company’s stock after selling 3,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Owens Corning were worth $6,627,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Truist Financial Corp lifted its position in 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 acquiring an additional 624 shares in the last quarter. Alpha DNA Investment Management LLC lifted its holdings in shares of Owens Corning by 147.4% in the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after purchasing an additional 2,544 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Owens Corning by 3.1% during the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock worth $1,189,000 after buying an additional 200 shares during the period. Penserra Capital Management LLC boosted its position in shares of Owens Corning by 53.3% during the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock worth $832,000 after buying an additional 1,643 shares during the period. Finally, Atria Investments Inc grew its holdings in shares of Owens Corning by 93.3% during the third quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after buying an additional 6,373 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Down 3.2 %

Shares of NYSE:OC opened at $153.92 on Thursday. Owens Corning has a 52-week low of $147.20 and a 52-week high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company has a market capitalization of $13.20 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46. The company has a 50-day simple moving average of $176.07 and a 200 day simple moving average of $178.84.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s revenue was up 23.3% on a year-over-year basis. During the same period last year, the firm posted $3.21 earnings per share. Sell-side analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Monday, March 10th. Owens Corning’s payout ratio is presently 23.49%.

Insider Activity

In related news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the sale, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction on 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 owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

OC has been the topic of several research reports. Evercore ISI boosted their target price on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Wells Fargo & Company reduced their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday. Loop Capital cut their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Barclays decreased their price objective on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.00.

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.