Lindenwold Advisors INC Has $521,000 Stake in Owens Corning (NYSE:OC)

Lindenwold Advisors INC lowered its stake in shares of Owens Corning (NYSE:OC) by 3.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,058 shares of the construction company’s stock after selling 110 shares during the period. Lindenwold Advisors INC’s holdings in Owens Corning were worth $521,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Truist Financial Corp boosted its holdings in Owens Corning by 4.0% during the fourth quarter. Truist Financial Corp now owns 16,038 shares of the construction company’s stock valued at $2,732,000 after purchasing an additional 624 shares in the last quarter. Alpha DNA Investment Management LLC increased its holdings in shares of Owens Corning by 147.4% during the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after buying an additional 2,544 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Owens Corning by 3.1% in 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 in the last quarter. Penserra Capital Management LLC lifted its position in Owens Corning by 53.3% during the 3rd 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 in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Owens Corning by 88.9% during 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 last quarter. Institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling

In other news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on OC shares. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. UBS Group lowered their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Citigroup decreased their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, 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. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $204.18.

Owens Corning Stock Performance

Shares of OC stock opened at $144.89 on Wednesday. The company has a market capitalization of $12.39 billion, a price-to-earnings ratio of 12.33, a PEG 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 has a 52 week low of $137.50 and a 52 week high of $214.53. The company has a 50-day simple moving average of $168.97 and a 200 day simple moving average of $177.11.

Owens Corning (NYSE:OC) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the business earned $3.21 EPS. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, sell-side analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

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 paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is currently 37.70%.

Owens Corning 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.