Owens Corning (NYSE:OC) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its stake in shares of Owens Corning (NYSE:OC) by 5.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,188 shares of the construction company’s stock after acquiring an additional 327 shares during the period. PNC Financial Services Group Inc.’s holdings in Owens Corning were worth $1,054,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Truist Financial Corp raised its stake in Owens Corning by 4.0% during the 4th 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 during the period. Alpha DNA Investment Management LLC raised its stake in Owens Corning by 147.4% during the 3rd 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 during the period. Janus Henderson Group PLC raised its stake in Owens Corning by 3.1% during the 3rd 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 during the period. Penserra Capital Management LLC raised its stake 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 valued at $832,000 after purchasing an additional 1,643 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Owens Corning by 88.9% during the 4th 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 period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Up 4.5 %

OC stock opened at $144.09 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a 52-week low of $137.50 and a 52-week high of $214.53. The company has a 50-day moving average of $169.96 and a two-hundred day moving average of $177.43. The stock has a market capitalization of $12.33 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $2.88 billion. During the same period in the prior year, the company earned $3.21 earnings per share. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is 37.70%.

Insider Buying and Selling at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the 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 owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on OC. JPMorgan Chase & Co. cut their target price 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. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Barclays dropped their price target on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. UBS Group dropped their price target on shares of 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, Citigroup dropped their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.18.

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.