Proficio Capital Partners LLC Purchases New Shares in Owens Corning (NYSE:OC)

Proficio Capital Partners LLC bought a new position in shares of Owens Corning (NYSE:OC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 134,048 shares of the construction company's stock, valued at approximately $22,831,000. Proficio Capital Partners LLC owned about 0.16% of Owens Corning as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in OC. Truist Financial Corp boosted its holdings in Owens Corning by 4.0% in the fourth quarter. Truist Financial Corp now owns 16,038 shares of the construction company's stock valued at $2,732,000 after acquiring an additional 624 shares during the last quarter. Alpha DNA Investment Management LLC boosted its holdings in Owens Corning by 147.4% in the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company's stock valued at $754,000 after acquiring an additional 2,544 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Owens Corning by 3.1% during the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company's stock worth $1,189,000 after buying an additional 200 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in Owens Corning by 53.3% during the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company's stock worth $832,000 after buying an additional 1,643 shares during the last quarter. Finally, Atria Investments Inc boosted its holdings in Owens Corning by 93.3% during the third quarter. Atria Investments Inc now owns 13,200 shares of the construction company's stock worth $2,330,000 after buying an additional 6,373 shares during the last quarter. Institutional investors own 88.40% of the company's stock.

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Owens Corning Stock Down 0.1 %

Owens Corning stock traded down $0.18 during midday trading on Tuesday, reaching $144.89. The stock had a trading volume of 858,212 shares, compared to its average volume of 735,051. The firm's fifty day simple moving average is $169.45 and its 200-day simple moving average is $177.28. Owens Corning has a 1-year low of $137.50 and a 1-year high of $214.53. The stock has a market capitalization of $12.39 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

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

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be paid a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.90%. Owens Corning's dividend payout ratio is 37.70%.

Insider Buying and Selling at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred on 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.89% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on OC shares. Benchmark restated a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Royal Bank of Canada restated an "outperform" rating and set a $212.00 target price on shares of Owens Corning in a report on Monday. Barclays dropped their price target on Owens Corning from $245.00 to $215.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company dropped their price target on Owens Corning from $225.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Finally, UBS Group dropped their price target on Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $204.18.

About Owens Corning

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.