Ceredex Value Advisors LLC Sells 76,275 Shares of Owens Corning (NYSE:OC)

Ceredex Value Advisors LLC reduced its stake in Owens Corning (NYSE:OC - Free Report) by 40.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,100 shares of the construction company's stock after selling 76,275 shares during the quarter. Ceredex Value Advisors LLC owned about 0.13% of Owens Corning worth $18,923,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jump Financial LLC lifted its stake in shares of Owens Corning by 129.4% in the 4th quarter. Jump Financial LLC now owns 14,993 shares of the construction company's stock valued at $2,554,000 after purchasing an additional 8,458 shares during the period. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Owens Corning during the 4th quarter worth approximately $27,067,000. Promethos Capital LLC grew its position in shares of Owens Corning by 3.5% during the 4th quarter. Promethos Capital LLC now owns 32,627 shares of the construction company's stock worth $5,557,000 after buying an additional 1,110 shares during the period. XTX Topco Ltd lifted its position in shares of Owens Corning by 2.6% during the 4th quarter. XTX Topco Ltd now owns 10,106 shares of the construction company's stock valued at $1,721,000 after acquiring an additional 255 shares during the period. Finally, CreativeOne Wealth LLC boosted its stake in Owens Corning by 7.9% during the fourth quarter. CreativeOne Wealth LLC now owns 1,546 shares of the construction company's stock worth $263,000 after acquiring an additional 113 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The stock was 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 represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.82% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on OC shares. Loop Capital dropped their price objective on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Wells Fargo & Company cut their price target on Owens Corning from $200.00 to $155.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Owens Corning in a report on Tuesday, April 1st. They set a "buy" rating and a $183.00 price objective for the company. Barclays lowered their target price on shares of Owens Corning from $215.00 to $179.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lowered their price target on Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $194.58.

Owens Corning Stock Performance

NYSE OC traded down $4.86 during trading hours on Monday, reaching $132.96. 98,640 shares of the company were exchanged, compared to its average volume of 806,673. 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 stock has a market capitalization of $11.37 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.88 and a beta of 1.39. Owens Corning has a 1 year low of $123.41 and a 1 year high of $214.53. The business's 50 day simple moving average is $148.43 and its 200-day simple moving average is $172.23.

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the business posted $3.21 earnings per share. The business's revenue for the quarter was up 23.3% on a year-over-year basis. On average, equities research analysts expect 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 was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were paid a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 2.08%. Owens Corning's payout ratio is 37.70%.

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.