O Shaughnessy Asset Management LLC Sells 55,239 Shares of Owens Corning (NYSE:OC)

O Shaughnessy Asset Management LLC lessened its position in shares of Owens Corning (NYSE:OC - Free Report) by 42.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,870 shares of the construction company's stock after selling 55,239 shares during the period. O Shaughnessy Asset Management LLC owned 0.09% of Owens Corning worth $12,922,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Truist Financial Corp lifted its holdings in Owens Corning by 4.0% during the fourth quarter. Truist Financial Corp now owns 16,038 shares of the construction company's stock valued at $2,732,000 after purchasing an additional 624 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Owens Corning by 3.1% in the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company's stock valued at $1,189,000 after purchasing an additional 200 shares during the period. Principal Financial Group Inc. raised its position in shares of Owens Corning by 88.9% in the fourth quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company's stock valued at $66,777,000 after purchasing an additional 184,552 shares during the period. Empower Advisory Group LLC lifted its stake in shares of Owens Corning by 1.0% during the 4th quarter. Empower Advisory Group LLC now owns 512,049 shares of the construction company's stock valued at $87,212,000 after buying an additional 5,167 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in Owens Corning by 3.1% in the 3rd quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company's stock worth $34,717,000 after buying an additional 5,916 shares during the period. Institutional investors own 88.40% of the company's stock.

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Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OC. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Barclays decreased their price objective on Owens Corning from $245.00 to $215.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Benchmark restated a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Wells Fargo & Company reduced their target price on Owens Corning from $225.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday, February 25th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $212.00 price target on shares of Owens Corning in a report on Monday, March 17th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Owens Corning has a consensus rating of "Moderate Buy" and an average target price of $202.42.

Owens Corning Price Performance

OC stock traded down $9.88 during midday trading on Thursday, reaching $137.31. The company had a trading volume of 1,158,030 shares, compared to its average volume of 782,359. The firm has a 50-day moving average price of $162.15 and a 200-day moving average price of $175.91. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company has a market capitalization of $11.75 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a 1 year low of $134.18 and a 1 year high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $2.88 billion. During the same quarter in the prior year, the firm earned $3.21 earnings per share. The firm's revenue was up 23.3% on a year-over-year basis. On average, research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.01%. Owens Corning's dividend 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.