Owens Corning (NYSE:OC) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Owens Corning (NYSE:OC) by 14.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,898 shares of the construction company’s stock after acquiring an additional 1,652 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Owens Corning were worth $1,912,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in OC. Blue Trust Inc. boosted its position in shares of Owens Corning by 42.2% in the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock valued at $36,000 after purchasing an additional 78 shares during the period. Caprock Group LLC boosted its position in shares of Owens Corning by 3.7% in the 4th quarter. Caprock Group LLC now owns 2,214 shares of the construction company’s stock valued at $328,000 after purchasing an additional 79 shares during the period. VisionPoint Advisory Group LLC boosted its position in shares of Owens Corning by 53.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock valued at $35,000 after purchasing an additional 88 shares during the period. Ballentine Partners LLC boosted its position in shares of Owens Corning by 1.5% in the 3rd quarter. Ballentine Partners LLC now owns 6,192 shares of the construction company’s stock valued at $845,000 after purchasing an additional 89 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Owens Corning by 26.4% in the 3rd quarter. UMB Bank n.a. now owns 469 shares of the construction company’s stock valued at $64,000 after purchasing an additional 98 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Loop Capital upped their target price on Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Barclays downgraded Owens Corning from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $170.00 to $160.00 in a research note on Monday, February 12th. UBS Group reduced their price objective on Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Evercore ISI downgraded Owens Corning from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $163.00 to $154.00 in a research note on Thursday, February 15th. Finally, Truist Financial upped their price objective on Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and an average price target of $162.14.

Insider Activity

In related news, EVP Paula Russell sold 3,765 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Gunner Smith sold 708 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $153.73, for a total transaction of $108,840.84. Following the completion of the sale, the insider now owns 39,994 shares in the company, valued at approximately $6,148,277.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,672 shares of company stock valued at $3,325,799. 0.89% of the stock is currently owned by insiders.

Owens Corning Trading Down 0.2 %

Shares of NYSE OC opened at $160.16 on Friday. The stock’s 50 day moving average price is $157.70 and its two-hundred day moving average price is $145.13. Owens Corning has a 52-week low of $98.02 and a 52-week high of $173.65. The stock has a market capitalization of $13.94 billion, a P/E ratio of 12.21, a PEG ratio of 0.28 and a beta of 1.47. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, beating the consensus estimate of $2.82 by $0.39. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The business’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.49 earnings per share. On average, analysts anticipate that Owens Corning will post 13.77 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Monday, March 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is presently 18.29%.

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.