Owens Corning (NYSE:OC) Shares Sold by Aviva PLC

Aviva PLC lessened its position in shares of Owens Corning (NYSE:OC - Free Report) by 78.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,116 shares of the construction company's stock after selling 178,673 shares during the quarter. Aviva PLC owned 0.06% of Owens Corning worth $8,365,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of OC. Truist Financial Corp lifted its position in shares of Owens Corning by 4.0% during the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company's stock valued at $2,732,000 after buying an additional 624 shares in the last quarter. Allstate Corp purchased a new position in Owens Corning during the fourth quarter valued at approximately $425,000. Integrated Quantitative Investments LLC bought a new position in shares of Owens Corning in the fourth quarter worth approximately $349,000. Janus Henderson Group PLC increased its stake in shares of Owens Corning by 3.1% in the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company's stock worth $1,189,000 after purchasing an additional 200 shares in the last quarter. Finally, Principal Financial Group Inc. raised 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 valued at $66,777,000 after purchasing an additional 184,552 shares during the period. Institutional investors own 88.40% of the company's stock.

Owens Corning Price Performance

Shares of NYSE OC traded up $0.55 during midday trading on Monday, hitting $139.57. The stock had a trading volume of 58,018 shares, compared to its average volume of 798,013. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock has a 50 day simple moving average of $152.71 and a 200-day simple moving average of $173.48. The company has a market capitalization of $11.94 billion, a PE ratio of 11.88, a P/E/G 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.

Owens Corning (NYSE:OC - Get Free Report) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm's quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the business earned $3.21 EPS. On average, sell-side analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were given 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 dividend yield of 1.98%. Owens Corning's payout ratio is currently 37.70%.

Analyst Ratings Changes

Several brokerages recently issued reports on OC. Benchmark reissued a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Royal Bank of Canada reiterated an "outperform" rating and set a $212.00 price objective on shares of Owens Corning in a research report on Monday, March 17th. Loop Capital dropped their target price on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Owens Corning in a report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price target on the stock. Finally, Citigroup dropped their price objective on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Owens Corning presently has a consensus rating of "Moderate Buy" and a consensus target price of $195.67.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business'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. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.82% of the stock is owned by insiders.

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.