Thrivent Financial for Lutherans Sells 142,315 Shares of Owens Corning (NYSE:OC)

Thrivent Financial for Lutherans reduced its position in shares of Owens Corning (NYSE:OC) by 61.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,037 shares of the construction company’s stock after selling 142,315 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Owens Corning were worth $15,626,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Truist Financial Corp boosted its stake 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 acquiring an additional 624 shares during the period. Alpha DNA Investment Management LLC lifted its holdings in Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after purchasing an additional 2,544 shares during the last quarter. Janus Henderson Group PLC boosted its position 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 purchasing an additional 200 shares during the period. Penserra Capital Management LLC increased its holdings in shares of Owens Corning by 53.3% in the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after purchasing an additional 1,643 shares during the last quarter. Finally, 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. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Transactions at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were 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. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE:OC opened at $144.49 on Friday. The firm has a 50 day moving average of $167.56 and a 200-day moving average of $176.53. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $12.36 billion, a PE ratio of 12.30, a PEG ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last released its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the company earned $3.21 earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. On average, equities research analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.91%. The ex-dividend date is Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OC. Loop Capital reduced their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Barclays decreased their target price 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. Citigroup reduced their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Wells Fargo & Company dropped 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. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning 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.