Owens Corning (NYSE:OC) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN grew its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 153.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 148,284 shares of the construction company's stock after purchasing an additional 89,825 shares during the quarter. Wells Fargo & Company MN owned approximately 0.17% of Owens Corning worth $25,256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OC. Janus Henderson Group PLC increased its holdings 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 last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Owens Corning in the 3rd quarter valued at approximately $425,000. National Bank of Canada FI increased its holdings in shares of Owens Corning by 0.7% during the 3rd quarter. National Bank of Canada FI now owns 25,130 shares of the construction company's stock worth $4,436,000 after buying an additional 180 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Owens Corning by 0.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 39,776 shares of the construction company's stock valued at $7,021,000 after buying an additional 200 shares during the period. Finally, Barclays PLC lifted its holdings in Owens Corning by 23.3% in the third quarter. Barclays PLC now owns 125,756 shares of the construction company's stock valued at $22,197,000 after acquiring an additional 23,787 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

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Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.82% of the company's stock.

Owens Corning Stock Down 1.5 %

OC traded down $2.13 on Tuesday, hitting $138.10. 592,787 shares of the company were exchanged, compared to its average volume of 799,465. The firm has a 50-day moving average price of $151.87 and a two-hundred day moving average price of $173.24. 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 has a twelve month low of $123.41 and a twelve month high of $214.53. The company has a market cap of $11.81 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. The business 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 for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.21 earnings per share. On average, equities analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.00%. Owens Corning's payout ratio is 37.70%.

Analyst Upgrades and Downgrades

OC has been the topic of a number of research analyst reports. Citigroup reduced their target price 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They set a "buy" rating and a $183.00 target price for the company. Loop Capital reduced their price target on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company lowered their price objective on shares of Owens Corning from $200.00 to $155.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Benchmark reissued a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Owens Corning currently has an average rating of "Moderate Buy" and a consensus target price of $194.58.

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.