2,498 Shares in Owens Corning (NYSE:OC) Acquired by Allstate Corp

Allstate Corp acquired a new stake in Owens Corning (NYSE:OC) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,498 shares of the construction company’s stock, valued at approximately $425,000.

Other large investors have also recently added to or reduced their stakes in the company. Truist Financial Corp grew its stake in shares of Owens Corning by 4.0% in the fourth 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. Janus Henderson Group PLC boosted its holdings in Owens Corning by 3.1% in the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock valued at $1,189,000 after purchasing an additional 200 shares during the period. Principal Financial Group Inc. grew its position in shares of Owens Corning by 88.9% during the 4th quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company’s stock worth $66,777,000 after purchasing an additional 184,552 shares in the last quarter. Empower Advisory Group LLC increased its holdings in shares of Owens Corning by 1.0% during the fourth quarter. Empower Advisory Group LLC now owns 512,049 shares of the construction company’s stock worth $87,212,000 after purchasing an additional 5,167 shares during the period. Finally, Retirement Systems of Alabama raised its position in shares of Owens Corning by 3.1% in the third quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company’s stock valued at $34,717,000 after buying an additional 5,916 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is owned by company insiders.

Owens Corning Price Performance

Shares of NYSE:OC opened at $147.20 on Thursday. The firm has a 50 day simple moving average of $162.15 and a 200 day simple moving average of $175.91. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.88 and a beta of 1.52. Owens Corning has a one year low of $137.50 and a one year high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

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

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is currently 37.70%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on OC shares. JPMorgan Chase & Co. reduced their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Loop Capital decreased their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $212.00 price target on shares of Owens Corning in a research note on Monday, March 17th. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.42.

About Owens Corning

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.