CANADA LIFE ASSURANCE Co Boosts Stock Position in Owens Corning (NYSE:OC)

CANADA LIFE ASSURANCE Co lifted its position in shares of Owens Corning (NYSE:OC - Free Report) by 5.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 158,054 shares of the construction company's stock after buying an additional 7,854 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.18% of Owens Corning worth $26,931,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Truist Financial Corp grew its holdings in shares of Owens Corning by 4.0% during the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company's stock worth $2,732,000 after purchasing an additional 624 shares in the last quarter. Allstate Corp bought a new stake in Owens Corning during the fourth quarter worth about $425,000. Integrated Quantitative Investments LLC acquired a new stake in Owens Corning during the fourth quarter worth about $349,000. Principal Financial Group Inc. increased its holdings in Owens Corning by 88.9% in the 4th 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 period. Finally, Empower Advisory Group LLC raised its position in shares of Owens Corning by 1.0% in the 4th 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 in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Owens Corning

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

Analysts Set New Price Targets

Several research firms recently issued reports on OC. Loop Capital reduced their price target on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada decreased their price target on Owens Corning from $212.00 to $199.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company lowered their price target on Owens Corning from $200.00 to $155.00 and set an "overweight" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Finally, Benchmark reiterated a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Five investment 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 $194.58.

Owens Corning Trading Up 4.2 %

NYSE OC traded up $5.79 on Thursday, hitting $143.96. The company's stock had a trading volume of 717,387 shares, compared to its average volume of 808,447. The firm has a market cap of $12.31 billion, a PE ratio of 12.25, a PEG ratio of 1.88 and a beta of 1.39. The company's 50-day moving average is $145.94 and its 200 day moving average is $171.49. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53.

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

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning's payout ratio is 37.70%.

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.