Invesco Ltd. Has $81.15 Million Holdings in Owens Corning (NYSE:OC)

Invesco Ltd. decreased its position in shares of Owens Corning (NYSE:OC) by 56.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 476,425 shares of the construction company’s stock after selling 625,543 shares during the quarter. Invesco Ltd. owned about 0.56% of Owens Corning worth $81,145,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of OC. Truist Financial Corp grew its holdings in shares of Owens Corning by 4.0% in the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company’s stock valued at $2,732,000 after buying an additional 624 shares during the period. Allstate Corp bought a new position in Owens Corning during the fourth quarter worth about $425,000. Integrated Quantitative Investments LLC acquired a new position in Owens Corning in the fourth quarter valued at about $349,000. Principal Financial Group Inc. increased its holdings 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 worth $66,777,000 after acquiring an additional 184,552 shares in the last quarter. Finally, Empower Advisory Group LLC raised its position in shares of Owens Corning by 1.0% during the fourth quarter. Empower Advisory Group LLC now owns 512,049 shares of the construction company’s stock worth $87,212,000 after purchasing an additional 5,167 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on OC. UBS Group decreased their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Barclays lowered their price objective on shares of Owens Corning from $215.00 to $179.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. 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. JPMorgan Chase & Co. lowered their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $199.42.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.82% of the stock is owned by company insiders.

Owens Corning Trading Up 3.2 %

Owens Corning stock opened at $138.84 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The stock has a 50-day simple moving average of $152.71 and a 200 day simple moving average of $173.48. The stock has a market capitalization of $11.88 billion, a P/E ratio of 11.82, a PEG ratio of 1.88 and a beta of 1.39. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53.

Owens Corning (NYSE:OC) last posted its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping 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 analyst estimates of $2.88 billion. During the same period in the previous year, the firm earned $3.21 EPS. The firm’s revenue was up 23.3% compared to the same quarter last year. Analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

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.