New York State Common Retirement Fund Has $6.63 Million Position in Owens Corning (NYSE:OC)

New York State Common Retirement Fund reduced its position in shares of Owens Corning (NYSE:OC - Free Report) by 7.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,910 shares of the construction company's stock after selling 3,000 shares during the period. New York State Common Retirement Fund's holdings in Owens Corning were worth $6,627,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Atria Wealth Solutions Inc. grew its holdings in shares of Owens Corning by 16.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,759 shares of the construction company's stock worth $640,000 after acquiring an additional 521 shares during the period. Venturi Wealth Management LLC grew its holdings in Owens Corning by 55.8% in the 4th 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 during the period. Empower Advisory Group LLC increased its position in Owens Corning by 1.0% during the fourth quarter. Empower Advisory Group LLC now owns 512,049 shares of the construction company's stock worth $87,212,000 after purchasing an additional 5,167 shares during the last quarter. Truist Financial Corp increased 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 buying an additional 624 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Owens Corning by 10.6% during the 4th quarter. CIBC Asset Management Inc now owns 3,884 shares of the construction company's stock worth $662,000 after purchasing an additional 371 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

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Owens Corning Stock Performance

OC stock traded up $1.90 during mid-day trading on Friday, reaching $153.96. The company had a trading volume of 1,308,555 shares, compared to its average volume of 833,903. The stock's 50-day simple moving average is $175.41 and its two-hundred day simple moving average is $178.78. The stock has a market capitalization of $13.17 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.88 and a beta of 1.46. 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 one year low of $148.78 and a one year high of $214.53.

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

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.79%. The ex-dividend date is Monday, March 10th. Owens Corning's dividend payout ratio is currently 37.70%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OC. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. The Goldman Sachs Group lifted their price target on shares of Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. UBS Group lowered their price objective on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Citigroup dropped their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, Barclays decreased their price objective on shares of Owens Corning from $245.00 to $215.00 and set an "overweight" rating for the company in a report on Wednesday. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $207.00.

Insider Buying and Selling at Owens Corning

In related 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 completion of the transaction, the insider now owns 18,866 shares in the company, valued at $3,606,990.54. This represents a 48.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the business's 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 in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

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.