Owens Corning (NYSE:OC) Stock Position Decreased by Skylands Capital LLC

Skylands Capital LLC cut its stake in shares of Owens Corning (NYSE:OC - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,290 shares of the construction company's stock after selling 9,960 shares during the period. Owens Corning accounts for approximately 2.2% of Skylands Capital LLC's portfolio, making the stock its 9th largest holding. Skylands Capital LLC owned approximately 0.11% of Owens Corning worth $15,014,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OC. Contravisory Investment Management Inc. bought a new stake in shares of Owens Corning during the fourth quarter valued at about $27,000. Bruce G. Allen Investments LLC bought a new position in shares of Owens Corning in the fourth quarter worth approximately $27,000. VisionPoint Advisory Group LLC increased its position in shares of Owens Corning by 53.0% in the third quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company's stock worth $35,000 after purchasing an additional 88 shares during the last quarter. BluePath Capital Management LLC bought a new position in shares of Owens Corning in the third quarter worth approximately $36,000. Finally, Blue Trust Inc. increased its position in shares of Owens Corning by 42.2% in the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company's stock worth $36,000 after purchasing an additional 78 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Citigroup increased their price objective on Owens Corning from $150.00 to $169.00 and gave the company a "neutral" rating in a research note on Friday, April 5th. JPMorgan Chase & Co. dropped their price target on Owens Corning from $164.00 to $163.00 and set a "neutral" rating for the company in a research note on Tuesday, February 20th. Truist Financial raised their price target on Owens Corning from $115.00 to $145.00 and gave the stock a "hold" rating in a research note on Thursday, February 15th. Argus raised their price target on Owens Corning from $175.00 to $182.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Evercore ISI raised their price target on Owens Corning from $154.00 to $172.00 and gave the stock an "in-line" rating in a research note on Thursday. Eight investment 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $168.21.

Owens Corning Stock Up 1.9 %

Shares of NYSE:OC traded up $3.18 on Monday, hitting $171.68. 900,628 shares of the company traded hands, compared to its average volume of 675,482. Owens Corning has a 52 week low of $103.41 and a 52 week high of $173.65. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $160.52 and a 200-day simple moving average of $146.78. The company has a market cap of $14.88 billion, a PE ratio of 13.90, a PEG ratio of 5.27 and a beta of 1.47.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period last year, the company earned $2.77 earnings per share. The company's revenue was down 1.3% on a year-over-year basis. As a group, research analysts expect that Owens Corning will post 14.74 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.40%. Owens Corning's payout ratio is 19.43%.

Insider Buying and Selling

In related news, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction dated 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 directly owns 269,696 shares in the company, valued at approximately $41,417,214.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Owens Corning news, CEO Brian Chambers sold 9,100 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 269,696 shares of the company's stock, valued at $41,417,214.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gunner Smith sold 7,442 shares of the firm's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the transaction, the insider now directly owns 36,140 shares in the company, valued at $5,384,498.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,672 shares of company stock worth $3,325,799. 0.90% of the stock is owned by corporate insiders.

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.