Federated Hermes Inc. Purchases 55,263 Shares of Owens Corning (NYSE:OC)

Federated Hermes Inc. lifted its stake in shares of Owens Corning (NYSE:OC - Free Report) by 11.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 530,802 shares of the construction company's stock after buying an additional 55,263 shares during the period. Federated Hermes Inc. owned about 0.60% of Owens Corning worth $78,681,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Desjardins Global Asset Management Inc. increased its holdings in Owens Corning by 1.1% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 13,746 shares of the construction company's stock valued at $2,038,000 after purchasing an additional 145 shares during the period. Cookson Peirce & Co. Inc. increased its holdings in Owens Corning by 7.7% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 5,006 shares of the construction company's stock valued at $742,000 after purchasing an additional 359 shares during the period. SVB Wealth LLC increased its holdings in Owens Corning by 28.4% in the fourth quarter. SVB Wealth LLC now owns 4,752 shares of the construction company's stock valued at $704,000 after purchasing an additional 1,050 shares during the period. Voss Capital LLC acquired a new stake in Owens Corning in the fourth quarter valued at $5,929,000. Finally, Oak Family Advisors LLC boosted its position in Owens Corning by 2.2% during the fourth quarter. Oak Family Advisors LLC now owns 8,027 shares of the construction company's stock valued at $1,190,000 after acquiring an additional 176 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Performance

Shares of Owens Corning stock traded down $0.36 on Friday, reaching $160.16. 572,295 shares of the company traded hands, compared to its average volume of 666,937. Owens Corning has a 52 week low of $98.02 and a 52 week high of $173.65. The company has a 50 day moving average of $157.70 and a 200 day moving average of $145.13. The firm has a market capitalization of $13.94 billion, a PE ratio of 12.21, a PEG ratio of 0.28 and a beta of 1.47. 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 quarterly earnings data on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, topping the consensus estimate of $2.82 by $0.39. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. Owens Corning's revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the firm earned $2.49 EPS. Equities analysts forecast that Owens Corning will post 13.77 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Friday, March 1st. Owens Corning's payout ratio is 18.29%.

Wall Street Analyst Weigh In

A number of brokerages have commented on OC. Loop Capital upped their price target on shares of Owens Corning from $167.00 to $188.00 and gave the company a "buy" rating in a research report on Monday, April 1st. Truist Financial upped their price target on shares of Owens Corning from $115.00 to $145.00 and gave the company a "hold" rating in a research report on Thursday, February 15th. Barclays cut shares of Owens Corning from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $170.00 to $160.00 in a research report on Monday, February 12th. JPMorgan Chase & Co. cut their price objective on shares of Owens Corning from $164.00 to $163.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 20th. Finally, Citigroup increased their price objective on shares of Owens Corning from $150.00 to $169.00 and gave the stock a "neutral" rating in a research report on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Owens Corning presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.14.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, CEO Brian Chambers sold 9,100 shares of the firm's 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 completion of the transaction, the chief executive officer now directly owns 269,696 shares of the company's stock, valued at approximately $41,417,214.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Owens Corning news, CEO Brian Chambers sold 9,100 shares of the firm's 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 completion of the transaction, the chief executive officer now directly owns 269,696 shares of the company's stock, valued at approximately $41,417,214.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gunner Smith sold 7,442 shares of the firm's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the sale, the insider now owns 36,140 shares in the company, valued at approximately $5,384,498.60. The disclosure for this sale can be found here. Insiders sold a total of 21,672 shares of company stock valued at $3,325,799 in the last three months. Company insiders own 0.89% of the company's stock.

Owens Corning 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.