Voss Capital LLC Acquires Shares of 40,000 Owens Corning (NYSE:OC)

Voss Capital LLC acquired a new stake in shares of Owens Corning (NYSE:OC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 40,000 shares of the construction company's stock, valued at approximately $5,929,000.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Owens Corning during the 4th quarter worth $111,343,000. Invesco Ltd. raised its stake in shares of Owens Corning by 156.1% during the 3rd quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company's stock worth $202,932,000 after purchasing an additional 906,782 shares during the period. Pacer Advisors Inc. raised its stake 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 worth $123,415,000 after purchasing an additional 819,201 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Owens Corning by 878.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 623,176 shares of the construction company's stock worth $5,861,000 after purchasing an additional 559,459 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Owens Corning by 1,602.4% during the 3rd quarter. Federated Hermes Inc. now owns 475,539 shares of the construction company's stock worth $64,868,000 after purchasing an additional 447,606 shares during the period. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Price Performance

OC stock traded down $1.59 during midday trading on Monday, reaching $163.92. The company had a trading volume of 531,966 shares, compared to its average volume of 666,202. The firm has a 50-day moving average price of $156.93 and a 200-day moving average price of $144.36. The company has a market capitalization of $14.26 billion, a P/E ratio of 12.68, a P/E/G ratio of 0.29 and a beta of 1.47. Owens Corning has a 1 year low of $98.00 and a 1 year high of $173.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 1.17.

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.39. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The business had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the prior year, the firm earned $2.49 earnings per share. The firm's revenue was up .8% on a year-over-year basis. On average, research analysts anticipate that Owens Corning will post 13.77 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, March 1st. Owens Corning's dividend payout ratio is currently 18.29%.

Wall Street Analyst Weigh In

OC has been the topic of a number of research reports. Evercore ISI cut Owens Corning from an "outperform" rating to an "in-line" rating and lowered their price objective for the company from $163.00 to $154.00 in a research note on Thursday, February 15th. Royal Bank of Canada lowered their price objective on Owens Corning from $183.00 to $175.00 and set an "outperform" rating on the stock in a research note on Thursday, February 15th. Truist Financial boosted their price objective on Owens Corning from $115.00 to $145.00 and gave the company a "hold" rating in a research note on Thursday, February 15th. Citigroup increased their target price on Owens Corning from $150.00 to $169.00 and gave the stock a "neutral" rating in a research report on Friday, April 5th. Finally, Loop Capital lifted their price target on Owens Corning from $167.00 to $188.00 and gave the company a "buy" rating in a research report on Monday, April 1st. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $162.14.

Insider Buying and Selling at Owens Corning

In related news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value of $1,397,487.00. Following the transaction, the chief executive officer now owns 269,696 shares in the company, valued at approximately $41,417,214.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Brian Chambers sold 9,100 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the completion of the sale, the chief executive officer now owns 269,696 shares of the company's stock, valued at $41,417,214.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the transaction, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The disclosure for this sale can be found here. Insiders have sold 21,672 shares of company stock worth $3,325,799 over the last ninety days. Insiders own 0.90% of the company's stock.

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.

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