Ritholtz Wealth Management Sells 155 Shares of Owens Corning (NYSE:OC)

Ritholtz Wealth Management lowered its stake in shares of Owens Corning (NYSE:OC) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,539 shares of the construction company’s stock after selling 155 shares during the period. Ritholtz Wealth Management’s holdings in Owens Corning were worth $2,007,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $27,000. Bruce G. Allen Investments LLC acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $27,000. Financial Management Professionals Inc. acquired a new position in shares of Owens Corning during the 3rd quarter worth approximately $29,000. First Capital Advisors Group LLC. acquired a new position in shares of Owens Corning during the 2nd quarter worth approximately $31,000. Finally, IFP Advisors Inc increased its holdings in shares of Owens Corning by 78.1% during the 2nd quarter. IFP Advisors Inc now owns 244 shares of the construction company’s stock worth $32,000 after acquiring an additional 107 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Down 0.3 %

Shares of OC traded down $0.52 during mid-day trading on Thursday, reaching $166.69. 473,524 shares of the company were exchanged, compared to its average volume of 687,969. Owens Corning has a 52 week low of $90.78 and a 52 week high of $167.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.69. The stock has a market capitalization of $14.50 billion, a PE ratio of 12.74, a PEG ratio of 0.45 and a beta of 1.46. The business has a 50 day simple moving average of $152.89 and a two-hundred day simple moving average of $141.68.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, topping the consensus estimate of $2.82 by $0.39. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the firm posted $2.49 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. On average, analysts predict that Owens Corning will post 14.08 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Monday, March 4th will be issued a $0.60 dividend. The ex-dividend date is Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.44%. Owens Corning’s dividend payout ratio is presently 18.29%.

Insider Activity

In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the sale, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the transaction, the chief executive officer now directly owns 269,696 shares in the company, valued at approximately $41,417,214.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, the executive vice president now owns 20,419 shares of the company’s stock, valued at $3,307,878. The disclosure for this sale can be found here. Insiders have sold 21,672 shares of company stock worth $3,325,799 over the last 90 days. 0.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

OC has been the topic of a number of research reports. Evercore ISI lowered Owens Corning from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from $163.00 to $154.00 in a report on Thursday, February 15th. Royal Bank of Canada reduced their target price on Owens Corning from $183.00 to $175.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft raised Owens Corning from a “hold” rating to a “buy” rating and increased their target price for the stock from $130.00 to $180.00 in a report on Friday, December 8th. Truist Financial increased their target price on Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. Finally, The Goldman Sachs Group upped their price objective on Owens Corning from $130.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, December 14th. 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’s stock. According to MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and an average target price of $157.43.

About Owens Corning

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.