Owens Corning (NYSE:OC) Shares Sold by Veracity Capital LLC

Veracity Capital LLC reduced its stake in shares of Owens Corning (NYSE:OC) by 24.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,587 shares of the construction company’s stock after selling 823 shares during the period. Veracity Capital LLC’s holdings in Owens Corning were worth $432,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. LSV Asset Management grew its position in shares of Owens Corning by 0.7% during the 4th quarter. LSV Asset Management now owns 2,272,150 shares of the construction company’s stock valued at $336,801,000 after acquiring an additional 15,714 shares during the period. Victory Capital Management Inc. grew its position in shares of Owens Corning by 2.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,481,937 shares of the construction company’s stock valued at $219,668,000 after acquiring an additional 35,530 shares during the period. Allianz Asset Management GmbH grew its position in shares of Owens Corning by 7.7% during the 4th quarter. Allianz Asset Management GmbH now owns 1,057,518 shares of the construction company’s stock valued at $156,756,000 after acquiring an additional 75,594 shares during the period. Pacer Advisors Inc. grew its position in shares of Owens Corning by 6,116.6% during the 4th quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock valued at $123,415,000 after acquiring an additional 819,201 shares during the period. Finally, Norges Bank acquired a new stake in Owens Corning in the 4th quarter worth about $118,251,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Owens Corning news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares in the company, valued at $5,491,854.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Todd W. Fister sold 3,000 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the completion of the transaction, the chief financial officer now owns 31,626 shares in the company, valued at $5,491,854.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Monaco Nicolas Del sold 3,423 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $176.47, for a total transaction of $604,056.81. Following the transaction, the insider now owns 11,381 shares of the company’s stock, valued at approximately $2,008,405.07. The disclosure for this sale can be found here. Insiders sold a total of 19,360 shares of company stock worth $3,437,315 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OC. Loop Capital lifted their price objective on Owens Corning from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, June 21st. StockNews.com raised shares of Owens Corning from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. The Goldman Sachs Group reissued a “neutral” rating and issued a $187.00 target price on shares of Owens Corning in a research note on Monday, June 17th. 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 research note on Friday, April 5th. Finally, 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 research note on Thursday, April 25th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.00.

Owens Corning Stock Up 0.4 %

Shares of NYSE OC opened at $169.00 on Friday. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 5.01 and a beta of 1.42. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. Owens Corning has a 52-week low of $109.95 and a 52-week high of $184.00. The business’s 50 day moving average is $175.69 and its two-hundred day moving average is $162.09.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.77 earnings per share. Research analysts predict that Owens Corning will post 15.48 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 15th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.42%. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

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.