Corebridge Financial Inc. Has $16.53 Million Holdings in Owens Corning (NYSE:OC)

Corebridge Financial Inc. lowered its position in shares of Owens Corning (NYSE:OC - Free Report) by 5.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 97,071 shares of the construction company's stock after selling 5,743 shares during the period. Corebridge Financial Inc. owned 0.11% of Owens Corning worth $16,533,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of OC. LPL Financial LLC grew its holdings in Owens Corning by 43.9% in the 4th quarter. LPL Financial LLC now owns 76,747 shares of the construction company's stock worth $13,072,000 after buying an additional 23,427 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Owens Corning in the fourth quarter worth $648,000. KLP Kapitalforvaltning AS acquired a new position in shares of Owens Corning during the fourth quarter valued at $21,093,000. Hillsdale Investment Management Inc. raised its stake in shares of Owens Corning by 4.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 4,580 shares of the construction company's stock valued at $780,000 after purchasing an additional 200 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Owens Corning in the fourth quarter worth about $742,000. Institutional investors own 88.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $212.00 target price 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 report on Friday, January 10th. Citigroup decreased their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research note on Monday, January 6th. UBS Group dropped their price objective on Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Finally, StockNews.com cut Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $204.18.

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Owens Corning Trading Down 3.1 %

OC traded down $4.51 during trading on Friday, reaching $142.64. The company had a trading volume of 793,039 shares, compared to its average volume of 779,729. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 12-month low of $137.50 and a 12-month high of $214.53. The company has a market cap of $12.20 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 1.88 and a beta of 1.52. The firm's 50-day simple moving average is $164.63 and its 200 day simple moving average is $176.28.

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 for the quarter, topping the consensus estimate of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm's quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the firm posted $3.21 earnings per share. 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 issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.93%. Owens Corning's payout ratio is currently 37.70%.

Insider Transactions at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. This 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. 0.89% of the stock is currently owned by insiders.

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.