Sequoia Financial Advisors LLC Grows Position in Owens Corning (NYSE:OC)

Sequoia Financial Advisors LLC lifted its stake in Owens Corning (NYSE:OC) by 8.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,696 shares of the construction company’s stock after buying an additional 133 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Owens Corning were worth $289,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Truist Financial Corp raised its stake 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 raised its stake in 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 valued at $754,000 after purchasing an additional 2,544 shares in the last quarter. Janus Henderson Group PLC raised its stake 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 valued at $1,189,000 after purchasing an additional 200 shares in the last quarter. Penserra Capital Management LLC raised its stake in Owens Corning by 53.3% during 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 in the last quarter. Finally, Principal Financial Group Inc. raised its stake in 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 in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OC. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Loop Capital cut their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. cut their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Barclays cut their price objective on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, UBS Group cut their price objective on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.18.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is owned by insiders.

Owens Corning Trading Up 1.9 %

NYSE OC opened at $147.60 on Thursday. The company’s 50-day moving average price is $168.49 and its 200-day moving average price is $176.90. 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 cap of $12.63 billion, a PE ratio of 12.56, a PEG ratio of 1.88 and a beta of 1.52. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53.

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

Owens Corning Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 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.