M&T Bank Corp Purchases 20,939 Shares of Owens Corning Inc $OC

Key Points

• M&T Bank Corp raised its stake in Owens Corning by 267.2% in the fourth quarter, buying an additional 20,939 shares to hold 28,775 shares worth about $3.22 million, as institutional investors now own roughly 88.4% of the stock.
• Owens Corning missed Q4 estimates with EPS of $1.10 (vs. $1.36 expected) and saw revenue decline 16.8% year-over-year, leaving the company with a negative net margin of 5.17% despite a 21.93% return on equity.
• Analyst sentiment is mixed but leans positive: the consensus is a “Moderate Buy” with an average target of $145.09, while individual targets range from about $130 to $172 and ratings span Strong Buy to Sell.

M&T Bank Corp raised its position in Owens Corning Inc (NYSE:OC - Free Report) by 267.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,775 shares of the construction company's stock after purchasing an additional 20,939 shares during the period. M&T Bank Corp's holdings in Owens Corning were worth $3,220,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Owens Corning in the fourth quarter valued at approximately $37,000. Root Financial Partners LLC acquired a new position in shares of Owens Corning in the third quarter valued at approximately $39,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Owens Corning in the third quarter valued at approximately $42,000. SJS Investment Consulting Inc. boosted its holdings in shares of Owens Corning by 3,766.7% in the third quarter. SJS Investment Consulting Inc. now owns 348 shares of the construction company's stock valued at $49,000 after buying an additional 339 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in shares of Owens Corning in the fourth quarter valued at approximately $49,000. Institutional investors own 88.40% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Argus upgraded shares of Owens Corning to a "strong-buy" rating in a report on Wednesday, January 14th. Evercore set a $130.00 price target on shares of Owens Corning in a report on Friday. UBS Group upped their price target on shares of Owens Corning from $160.00 to $172.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Owens Corning in a report on Friday, March 27th. Finally, Barclays reduced their price target on shares of Owens Corning from $138.00 to $135.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Owens Corning currently has a consensus rating of "Moderate Buy" and an average target price of $145.09.

Owens Corning Stock Performance

NYSE OC opened at $125.82 on Tuesday. The firm has a 50-day moving average of $114.87 and a 200-day moving average of $117.17. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.70 and a current ratio of 1.26. The stock has a market cap of $10.11 billion, a PE ratio of -19.66, a P/E/G ratio of 2.22 and a beta of 1.35. Owens Corning Inc has a 52-week low of $97.53 and a 52-week high of $159.42.

Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results on Wednesday, February 25th. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.36 by ($0.26). The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. Owens Corning had a positive return on equity of 21.93% and a negative net margin of 5.17%.The business's quarterly revenue was down 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.22 EPS. On average, sell-side analysts anticipate that Owens Corning Inc will post 9.39 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Monday, March 9th were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, March 9th. Owens Corning's dividend payout ratio (DPR) is currently -49.38%.

Owens Corning Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company's core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.

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