Brandywine Global Investment Management LLC Trims Stock Holdings in Owens Corning (NYSE:OC)

Brandywine Global Investment Management LLC lessened its stake in Owens Corning (NYSE:OC - Free Report) by 62.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 67,483 shares of the construction company's stock after selling 110,238 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.08% of Owens Corning worth $11,494,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Truist Financial Corp raised its stake in Owens Corning by 4.0% in the 4th 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 during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Owens Corning by 3.1% during the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company's stock worth $1,189,000 after buying an additional 200 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Owens Corning by 88.9% in the fourth quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company's stock valued at $66,777,000 after buying an additional 184,552 shares during the last quarter. Empower Advisory Group LLC raised its position in shares of Owens Corning by 1.0% in the fourth quarter. Empower Advisory Group LLC now owns 512,049 shares of the construction company's stock valued at $87,212,000 after buying an additional 5,167 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in Owens Corning by 3.1% during the third quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company's stock worth $34,717,000 after acquiring an additional 5,916 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

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Owens Corning Stock Down 6.7 %

NYSE OC traded down $9.88 during trading hours on Thursday, hitting $137.31. 1,158,030 shares of the company were exchanged, compared to its average volume of 782,359. 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 firm has a market cap of $11.75 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.88 and a beta of 1.52. The company has a 50 day moving average of $162.15 and a two-hundred day moving average of $175.91. Owens Corning has a 52-week low of $134.18 and a 52-week high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the firm posted $3.21 EPS. The company's quarterly revenue was up 23.3% compared to the same quarter last year. Equities research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Monday, March 10th. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

OC has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of Owens Corning from $225.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday, February 25th. Citigroup cut their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a report on Monday, January 6th. Royal Bank of Canada reissued an "outperform" rating and set a $212.00 price objective on shares of Owens Corning in a research note on Monday, March 17th. Loop Capital cut their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $202.42.

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.