M&T Bank Corp Raises Holdings in Owens Corning (NYSE:OC)

M&T Bank Corp grew its stake in Owens Corning (NYSE:OC - Free Report) by 96.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,030 shares of the construction company's stock after buying an additional 4,443 shares during the quarter. M&T Bank Corp's holdings in Owens Corning were worth $1,538,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in Owens Corning during the fourth quarter worth $28,000. Venturi Wealth Management LLC raised its position in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in Owens Corning during the fourth quarter worth $31,000. Wilmington Savings Fund Society FSB raised its position in Owens Corning by 193.7% during the fourth 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 bought a new stake in Owens Corning during the fourth quarter worth $34,000. Institutional investors and hedge funds own 88.40% of the company's stock.

Insider Buying and Selling at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares of the company's stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders own 0.89% of the company's stock.

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Owens Corning Stock Performance

Shares of NYSE:OC traded down $0.15 during midday trading on Tuesday, reaching $139.62. The company had a trading volume of 1,498,335 shares, compared to its average volume of 936,035. The company's 50 day moving average price is $171.71 and its 200 day moving average price is $177.99. 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 market cap of $11.94 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a 52-week low of $137.50 and a 52-week high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating 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 company's revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.21 earnings per share. As a group, sell-side analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OC shares. StockNews.com lowered shares of Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. 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 research report on Friday, January 10th. Royal Bank of Canada dropped their price objective on shares of Owens Corning from $224.00 to $212.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price objective 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. Finally, Barclays dropped their price objective on shares of Owens Corning from $245.00 to $215.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Owens Corning presently has a consensus rating of "Moderate Buy" and an average target price of $204.18.

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.