Mackenzie Financial Corp Sells 45,341 Shares of Owens Corning (NYSE:OC)

Mackenzie Financial Corp lessened its holdings in Owens Corning (NYSE:OC - Free Report) by 53.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,596 shares of the construction company's stock after selling 45,341 shares during the quarter. Mackenzie Financial Corp's holdings in Owens Corning were worth $5,869,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of OC. Blue Trust Inc. lifted its position in Owens Corning by 42.2% in the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company's stock valued at $36,000 after purchasing an additional 78 shares during the last quarter. Caprock Group LLC lifted its holdings in Owens Corning by 3.7% in the 4th quarter. Caprock Group LLC now owns 2,214 shares of the construction company's stock worth $328,000 after buying an additional 79 shares during the period. VisionPoint Advisory Group LLC lifted its holdings in Owens Corning by 53.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company's stock worth $35,000 after buying an additional 88 shares during the period. Ballentine Partners LLC lifted its holdings in Owens Corning by 1.5% in the 3rd quarter. Ballentine Partners LLC now owns 6,192 shares of the construction company's stock worth $845,000 after buying an additional 89 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Owens Corning by 26.4% in the 3rd quarter. UMB Bank n.a. now owns 469 shares of the construction company's stock worth $64,000 after buying an additional 98 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Owens Corning

In related news, CEO Brian Chambers sold 9,100 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the sale, the chief executive officer now owns 269,696 shares in the company, valued at $41,417,214.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Owens Corning news, CEO Brian Chambers sold 9,100 shares of the company's stock in a transaction 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 in the company, valued at $41,417,214.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Paula Russell sold 3,765 shares of the company's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the sale, the executive vice president now owns 20,419 shares of the company's stock, valued at approximately $3,307,878. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,672 shares of company stock worth $3,325,799. Company insiders own 0.89% of the company's stock.

Owens Corning Stock Down 0.3 %

Shares of Owens Corning stock traded down $0.41 on Friday, reaching $160.11. The company's stock had a trading volume of 572,295 shares, compared to its average volume of 511,452. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50. Owens Corning has a 52 week low of $98.02 and a 52 week high of $173.65. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 0.28 and a beta of 1.47. The firm's fifty day simple moving average is $157.70 and its two-hundred day simple moving average is $145.33.

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

Owens Corning Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OC shares. JPMorgan Chase & Co. dropped their price objective on Owens Corning from $164.00 to $163.00 and set a "neutral" rating for the company in a report on Tuesday, February 20th. Citigroup increased their price objective on Owens Corning from $150.00 to $169.00 and gave the stock a "neutral" rating in a report on Friday, April 5th. Barclays cut Owens Corning from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $170.00 to $160.00 in a report on Monday, February 12th. UBS Group dropped their price objective on Owens Corning from $175.00 to $169.00 and set a "buy" rating for the company in a report on Thursday, February 15th. Finally, Truist Financial raised their target price on Owens Corning from $115.00 to $145.00 and gave the company a "hold" rating in a research note on Thursday, February 15th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Owens Corning presently has an average rating of "Moderate Buy" and an average price target of $162.14.

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.