Owens Corning (NYSE:OC) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in Owens Corning (NYSE:OC) by 28.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,089 shares of the construction company’s stock after selling 10,623 shares during the period. Truist Financial Corp’s holdings in Owens Corning were worth $3,867,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. acquired a new stake in shares of Owens Corning during the 4th quarter valued at approximately $27,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Owens Corning during the fourth quarter worth $27,000. VisionPoint Advisory Group LLC lifted 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 worth $35,000 after buying an additional 88 shares during the last quarter. Blue Trust Inc. boosted its holdings 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 buying an additional 78 shares during the period. Finally, BluePath Capital Management LLC bought a new stake in shares of Owens Corning during the 3rd quarter valued at about $36,000. 88.40% of the stock is currently owned by institutional investors.

Insider Activity at Owens Corning

In other Owens Corning news, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction that occurred 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 transaction, the executive vice president now owns 20,419 shares in the company, valued at $3,307,878. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Owens Corning news, insider Gunner Smith sold 7,442 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the transaction, the insider now directly owns 36,140 shares in the company, valued at $5,384,498.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Owens Corning Stock Performance

OC opened at $177.27 on Tuesday. The business has a 50 day moving average price of $163.26 and a two-hundred day moving average price of $148.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.22. The company has a market capitalization of $15.36 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 5.24 and a beta of 1.45. Owens Corning has a 1-year low of $103.65 and a 1-year high of $178.33.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.28 billion. During the same quarter last year, the business posted $2.77 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Research analysts predict that Owens Corning will post 15.37 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on OC shares. 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. Royal Bank of Canada upped their price objective on Owens Corning from $175.00 to $192.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Loop Capital increased their target price on Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. reduced their price target on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Finally, Barclays cut shares of Owens Corning from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $170.00 to $160.00 in a report on Monday, February 12th. Eight research 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 company. Based on data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

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.