Foundry Partners LLC Trims Position in Owens Corning (NYSE:OC)

Foundry Partners LLC lowered its holdings in Owens Corning (NYSE:OC) by 27.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,515 shares of the construction company’s stock after selling 946 shares during the period. Foundry Partners LLC’s holdings in Owens Corning were worth $428,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in OC. Truist Financial Corp boosted its holdings in shares of Owens Corning by 4.0% in the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company’s stock valued at $2,732,000 after purchasing an additional 624 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Owens Corning by 3.1% in the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock valued at $1,189,000 after acquiring an additional 200 shares during the last quarter. Principal Financial Group Inc. grew its position in Owens Corning by 88.9% during the fourth quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company’s stock valued at $66,777,000 after acquiring an additional 184,552 shares during the period. Empower Advisory Group LLC increased its stake in 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 acquiring an additional 5,167 shares during the last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of Owens Corning by 3.1% in the 3rd quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company’s stock worth $34,717,000 after purchasing an additional 5,916 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Price Performance

Shares of NYSE OC opened at $134.17 on Friday. The business has a 50 day moving average price of $160.07 and a two-hundred day moving average price of $175.44. Owens Corning has a fifty-two week low of $126.15 and a fifty-two week high of $214.53. The firm has a market cap of $11.48 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the firm earned $3.21 earnings per share. The business’s revenue was up 23.3% compared to the same quarter last year. Sell-side analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 2.06%. Owens Corning’s dividend payout ratio (DPR) is 37.70%.

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 transaction, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Owens Corning in a report on Tuesday, April 1st. They set a “buy” rating and a $183.00 target price for the company. UBS Group dropped their price objective on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Barclays reduced their target price on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Citigroup lowered their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Loop Capital reduced their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $202.42.

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.