Hancock Whitney Corp Acquires 2,369 Shares of Owens Corning (NYSE:OC)

Hancock Whitney Corp increased its position in Owens Corning (NYSE:OC - Free Report) by 16.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,058 shares of the construction company's stock after acquiring an additional 2,369 shares during the period. Hancock Whitney Corp's holdings in Owens Corning were worth $2,905,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Truist Financial Corp lifted its position in Owens Corning by 4.0% during the fourth 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 in the last quarter. Allstate Corp bought a new position in shares of Owens Corning during the 4th quarter valued at approximately $425,000. Integrated Quantitative Investments LLC bought a new position in shares of Owens Corning during the 4th quarter valued at approximately $349,000. Principal Financial Group Inc. increased 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 worth $66,777,000 after acquiring an additional 184,552 shares in the last quarter. Finally, Empower Advisory Group LLC raised its stake in Owens Corning by 1.0% during the 4th 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 period. Hedge funds and other institutional investors own 88.40% of the company's stock.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

OC has been the subject of a number of analyst reports. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Owens Corning in a report on Tuesday, April 1st. They set a "buy" rating and a $183.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Royal Bank of Canada decreased their target price on Owens Corning from $212.00 to $199.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, Barclays dropped their price target on Owens Corning from $215.00 to $179.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $195.73.

Owens Corning Trading Down 0.6 %

NYSE OC traded down $0.89 during trading hours on Wednesday, hitting $143.61. 196,226 shares of the company were exchanged, compared to its average volume of 804,274. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53. 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 moving average price of $143.40 and a 200 day moving average price of $170.42. The stock has a market cap of $12.28 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39.

Owens Corning (NYSE:OC - Get Free Report) last released 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. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.21 EPS. Analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders 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 annualized dividend and a dividend yield of 1.92%. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

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.