Xponance Inc. Has $2.73 Million Position in Owens Corning (NYSE:OC)

Xponance Inc. lifted its position in shares of Owens Corning (NYSE:OC) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,003 shares of the construction company’s stock after buying an additional 1,448 shares during the period. Xponance Inc.’s holdings in Owens Corning were worth $2,726,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of OC. Generali Asset Management SPA SGR bought a new stake in Owens Corning during the fourth quarter worth about $2,523,000. Signaturefd LLC raised its holdings in Owens Corning by 53.2% during the fourth quarter. Signaturefd LLC now owns 1,529 shares of the construction company’s stock worth $260,000 after acquiring an additional 531 shares in the last quarter. Parallel Advisors LLC raised its holdings in Owens Corning by 2.5% during the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock worth $439,000 after acquiring an additional 62 shares in the last quarter. Gallacher Capital Management LLC bought a new stake in Owens Corning during the fourth quarter worth about $216,000. Finally, Corient Private Wealth LLC raised its holdings in Owens Corning by 9.0% during the fourth quarter. Corient Private Wealth LLC now owns 35,503 shares of the construction company’s stock worth $6,047,000 after acquiring an additional 2,935 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OC shares. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Loop Capital dropped their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. UBS Group dropped their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the 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 sale, the insider now 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 filing with the SEC, which is available through the SEC website. 0.89% of the stock is currently owned by company insiders.

Owens Corning Price Performance

Shares of NYSE OC opened at $144.49 on Friday. The firm has a market cap of $12.36 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. 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 1-year low of $137.50 and a 1-year high of $214.53. The business’s 50 day moving average is $167.56 and its 200-day moving average is $176.53.

Owens Corning (NYSE:OC) last announced 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. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.21 earnings per share. Equities research analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

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

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.