Federated Hermes Inc. Sells 67,138 Shares of Owens Corning (NYSE:OC)

Federated Hermes Inc. decreased its position in shares of Owens Corning (NYSE:OC - Free Report) by 29.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,275 shares of the construction company's stock after selling 67,138 shares during the period. Federated Hermes Inc. owned about 0.18% of Owens Corning worth $26,787,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning in the 4th quarter worth about $28,000. Venturi Wealth Management LLC raised its stake in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after buying an additional 63 shares in the last quarter. Global Trust Asset Management LLC bought a new position in Owens Corning during the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB grew its position in shares of Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Owens Corning during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Trading Down 0.0 %

Shares of Owens Corning stock traded down $0.05 on Monday, reaching $138.97. 84,938 shares of the company were exchanged, compared to its average volume of 798,111. Owens Corning has a fifty-two week low of $123.41 and a fifty-two week high of $214.53. The firm has a market capitalization of $11.89 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock has a fifty day moving average price of $152.71 and a 200-day moving average price of $173.48.

Remove Ads

Owens Corning (NYSE:OC - Get Free Report) last posted 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. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business's quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.21 earnings per share. On average, analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.99%. The ex-dividend date was Monday, March 10th. Owens Corning's dividend payout ratio (DPR) is currently 37.70%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Barclays lowered their target price on shares of Owens Corning from $215.00 to $179.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company lowered their target price on Owens Corning from $200.00 to $155.00 and set an "overweight" rating for the company in a report on Monday. Benchmark reissued a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. StockNews.com cut Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, UBS Group reduced their price objective on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $194.58.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction 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 transaction, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.82% of the company's stock.

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.