Cwm LLC Sells 2,278 Shares of Owens Corning (NYSE:OC)

Cwm LLC trimmed its holdings in shares of Owens Corning (NYSE:OC) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,670 shares of the construction company’s stock after selling 2,278 shares during the quarter. Cwm LLC’s holdings in Owens Corning were worth $5,584,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in OC. Invesco Ltd. grew its holdings in Owens Corning by 156.1% during the 3rd quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock worth $202,932,000 after acquiring an additional 906,782 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Owens Corning by 6,116.6% in the 4th quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock worth $123,415,000 after purchasing an additional 819,201 shares during the period. Federated Hermes Inc. lifted its position 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 purchasing an additional 447,606 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Owens Corning by 226.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 164,252 shares of the construction company’s stock worth $22,406,000 after purchasing an additional 113,890 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of Owens Corning by 15.1% in the 4th 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 during the period. 88.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Evercore ISI downgraded shares of Owens Corning from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $163.00 to $154.00 in a research report on Thursday, February 15th. Truist Financial boosted their price target on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. dropped their target price on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 20th. Loop Capital boosted their target price on shares of Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Barclays downgraded shares of Owens Corning from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $170.00 to $160.00 in a research report on Monday, February 12th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $162.14.

Owens Corning Stock Performance

OC opened at $167.56 on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The company’s fifty day moving average price is $158.41 and its two-hundred day moving average price is $145.80. Owens Corning has a 1-year low of $98.02 and a 1-year high of $173.65. The company has a market cap of $14.58 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 0.28 and a beta of 1.47.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.39. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the company posted $2.49 earnings per share. The business’s revenue was up .8% on a year-over-year basis. On average, analysts expect that Owens Corning will post 13.92 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Monday, March 4th were paid a $0.60 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.43%. Owens Corning’s payout ratio is 18.29%.

Insider Transactions at Owens Corning

In other news, EVP Paula Russell sold 3,765 shares of the company’s 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 completion of the sale, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Paula Russell sold 3,765 shares of the company’s 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 completion of the sale, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the completion of the sale, the chief executive officer now owns 269,696 shares of the company’s stock, valued at approximately $41,417,214.72. The disclosure for this sale can be found here. Insiders sold a total of 21,672 shares of company stock worth $3,325,799 in the last quarter. 0.90% of the stock is currently owned by corporate insiders.

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.