Duality Advisers LP Has $355,000 Holdings in Owens Corning (NYSE:OC)

Duality Advisers LP trimmed its position in Owens Corning (NYSE:OC) by 77.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,397 shares of the construction company’s stock after selling 8,314 shares during the period. Duality Advisers LP’s holdings in Owens Corning were worth $355,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Owens Corning by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company’s stock valued at $1,205,000 after acquiring an additional 67 shares during the period. Blue Trust Inc. raised 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 acquiring an additional 78 shares during the period. Caprock Group LLC raised 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 acquiring an additional 79 shares during the period. VisionPoint Advisory Group LLC raised 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 acquiring an additional 88 shares during the period. Finally, Ballentine Partners LLC raised 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 acquiring an additional 89 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Owens Corning

In related news, EVP Paula Russell sold 3,765 shares of the firm’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 transaction, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Gunner Smith sold 657 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $153.36, for a total value of $100,757.52. Following the completion of the transaction, the insider now directly owns 37,587 shares of the company’s stock, valued at $5,764,342.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction 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 $3,307,878. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,672 shares of company stock valued at $3,325,799. 0.89% of the stock is owned by corporate insiders.

Owens Corning Price Performance

Shares of OC opened at $168.55 on Friday. The stock has a market capitalization of $14.61 billion, a P/E ratio of 13.65, a P/E/G ratio of 6.97 and a beta of 1.47. Owens Corning has a twelve month low of $99.49 and a twelve month high of $173.65. The company has a 50 day moving average of $159.88 and a 200-day moving average of $146.32. The company has a quick ratio of 1.17, a current ratio of 1.76 and a debt-to-equity ratio of 0.50.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.55. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the business earned $2.77 EPS. As a group, equities research analysts forecast that Owens Corning will post 13.92 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.42%. Owens Corning’s dividend payout ratio is presently 19.43%.

Analyst Ratings Changes

Several brokerages have commented on OC. Evercore ISI raised their target price on shares of Owens Corning from $154.00 to $172.00 and gave the stock an “in-line” rating in a report on Thursday. UBS Group raised their target price on shares of Owens Corning from $169.00 to $192.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup raised their target price on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Truist Financial raised their target price on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. Finally, Royal Bank of Canada raised their target price on shares of Owens Corning from $175.00 to $192.00 and gave the stock an “outperform” rating in a report on Thursday. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and an average target price of $168.21.

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.