Sycomore Asset Management Has $3.42 Million Stock Position in Owens Corning (NYSE:OC)

Sycomore Asset Management boosted its holdings in Owens Corning (NYSE:OC) by 35.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,960 shares of the construction company’s stock after buying an additional 6,012 shares during the quarter. Sycomore Asset Management’s holdings in Owens Corning were worth $3,415,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of OC. Contravisory Investment Management Inc. bought a new stake in shares of Owens Corning during the fourth quarter worth $27,000. Bruce G. Allen Investments LLC acquired a new position in Owens Corning in the 4th quarter worth about $27,000. VisionPoint Advisory Group LLC raised its position in Owens Corning by 53.0% in the third quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock valued at $35,000 after purchasing an additional 88 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in shares of Owens Corning during the third quarter valued at about $36,000. Finally, Blue Trust Inc. boosted its stake in shares of Owens Corning by 42.2% during the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock valued at $36,000 after purchasing an additional 78 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the sale, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the transaction, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gunner Smith sold 708 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $153.73, for a total transaction of $108,840.84. Following the completion of the transaction, the insider now directly owns 39,994 shares in the company, valued at $6,148,277.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,672 shares of company stock worth $3,325,799. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on OC shares. UBS Group dropped their price objective on shares of Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Truist Financial raised their price target on shares of Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. Evercore ISI downgraded shares of Owens Corning from an “outperform” rating to an “in-line” rating and dropped their price target for the company from $163.00 to $154.00 in a research note on Thursday, February 15th. Citigroup raised their price target on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Barclays downgraded shares of Owens Corning from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $170.00 to $160.00 in a research note on Monday, February 12th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.14.

Owens Corning Trading Down 1.4 %

Shares of OC traded down $2.42 during trading hours on Wednesday, hitting $165.20. 1,147,165 shares of the stock were exchanged, compared to its average volume of 673,792. Owens Corning has a fifty-two week low of $98.02 and a fifty-two week high of $173.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 1.17. The business has a 50-day moving average of $158.41 and a 200-day moving average of $145.80. The firm has a market capitalization of $14.37 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 0.28 and a beta of 1.47.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.39. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $2.49 earnings per share. On average, research analysts expect that Owens Corning will post 13.92 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Friday, March 1st. Owens Corning’s payout ratio is 18.29%.

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.