Owens Corning (NYSE:OC) Shares Sold by Oak Family Advisors LLC

Oak Family Advisors LLC trimmed its position in shares of Owens Corning (NYSE:OC - Free Report) by 80.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,259 shares of the construction company's stock after selling 5,164 shares during the period. Oak Family Advisors LLC's holdings in Owens Corning were worth $214,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Creative Planning increased its position in Owens Corning by 10.1% in the second quarter. Creative Planning now owns 8,410 shares of the construction company's stock worth $1,461,000 after purchasing an additional 772 shares during the last quarter. NewEdge Advisors LLC grew its position in Owens Corning by 215.1% in the 2nd quarter. NewEdge Advisors LLC now owns 5,568 shares of the construction company's stock valued at $967,000 after acquiring an additional 3,801 shares during the last quarter. Quarry LP increased its stake in Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company's stock worth $40,000 after buying an additional 144 shares during the period. Truist Financial Corp increased its holdings in Owens Corning by 17.3% during the 2nd quarter. Truist Financial Corp now owns 25,937 shares of the construction company's stock worth $4,506,000 after purchasing an additional 3,816 shares during the period. Finally, Cetera Investment Advisers increased its position in Owens Corning by 18.8% during the 2nd quarter. Cetera Investment Advisers now owns 15,170 shares of the construction company's stock valued at $2,635,000 after purchasing an additional 2,405 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Price Performance

OC traded up $1.51 during trading on Thursday, hitting $183.66. The company's stock had a trading volume of 728,582 shares, compared to its average volume of 683,978. The firm has a market capitalization of $15.75 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 2.02 and a beta of 1.46. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The business's fifty day simple moving average is $182.54 and its 200 day simple moving average is $178.73. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion for the quarter, compared to analysts' expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.15 EPS. On average, equities research analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.50%. Owens Corning's dividend payout ratio (DPR) is 23.49%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company upgraded shares of Owens Corning from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $195.00 to $225.00 in a report on Tuesday, December 17th. Royal Bank of Canada boosted their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Loop Capital reduced their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Citigroup lowered their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, UBS Group raised their price objective on Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Owens Corning currently has a consensus rating of "Moderate Buy" and an average target price of $201.75.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction that occurred on Friday, December 13th. The stock was 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 $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.90% 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.