J. Safra Sarasin Holding AG Raises Stock Holdings in Owens Corning (NYSE:OC)

J. Safra Sarasin Holding AG increased its stake in shares of Owens Corning (NYSE:OC) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,849 shares of the construction company’s stock after purchasing an additional 14,516 shares during the quarter. J. Safra Sarasin Holding AG owned approximately 0.24% of Owens Corning worth $34,720,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp grew its holdings in shares of Owens Corning by 4.0% during the fourth quarter. Truist Financial Corp now owns 16,038 shares of the construction company’s stock worth $2,732,000 after buying an additional 624 shares in the last quarter. Allstate Corp acquired a new stake in Owens Corning during the fourth quarter worth approximately $425,000. Integrated Quantitative Investments LLC purchased a new stake in Owens Corning in the 4th quarter worth approximately $349,000. Principal Financial Group Inc. raised its holdings in Owens Corning by 88.9% in the 4th 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 last quarter. Finally, Empower Advisory Group LLC raised its holdings in Owens Corning by 1.0% in the 4th quarter. Empower Advisory Group LLC now owns 512,049 shares of the construction company’s stock valued at $87,212,000 after acquiring an additional 5,167 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is currently owned by corporate insiders.

Owens Corning Price Performance

Shares of NYSE OC opened at $137.98 on Monday. The company has a market capitalization of $11.80 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.88 and a beta of 1.39. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53. The business has a 50-day moving average of $148.43 and a 200-day moving average of $172.23. 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 announced its earnings results 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 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 the consensus estimate of $2.88 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, equities analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were paid a dividend of $0.69 per share. The ex-dividend date was Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 2.00%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Loop Capital lowered their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. lowered their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Owens Corning in a report on Tuesday, April 1st. They set a “buy” rating and a $183.00 price objective on the stock. UBS Group lowered their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Finally, Royal Bank of Canada dropped their price target on shares of Owens Corning from $212.00 to $199.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average price target of $194.58.

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.