515 Shares in Owens Corning (NYSE:OC) Acquired by Planned Solutions Inc.

Planned Solutions Inc. acquired a new stake in shares of Owens Corning (NYSE:OC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 515 shares of the construction company’s stock, valued at approximately $76,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in shares of Owens Corning by 24.6% in the 2nd quarter. Bessemer Group Inc. now owns 380 shares of the construction company’s stock worth $50,000 after acquiring an additional 75 shares in the last quarter. VisionPoint Advisory Group LLC raised its holdings in Owens Corning by 53.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company’s stock worth $35,000 after acquiring an additional 88 shares during the last quarter. Ballentine Partners LLC lifted its position in Owens Corning by 1.5% in the 3rd quarter. Ballentine Partners LLC now owns 6,192 shares of the construction company’s stock valued at $845,000 after acquiring an additional 89 shares in the last quarter. UMB Bank n.a. boosted its stake in Owens Corning by 26.4% during the 3rd quarter. UMB Bank n.a. now owns 469 shares of the construction company’s stock valued at $64,000 after purchasing an additional 98 shares during the last quarter. Finally, First Bank & Trust increased its holdings in shares of Owens Corning by 2.8% in the 4th quarter. First Bank & Trust now owns 3,618 shares of the construction company’s stock worth $536,000 after purchasing an additional 98 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Up 1.8 %

Shares of OC opened at $167.14 on Thursday. 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 stock has a market capitalization of $14.54 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 0.45 and a beta of 1.46. Owens Corning has a 1 year low of $90.78 and a 1 year high of $167.27. The business’s 50 day simple moving average is $152.89 and its 200-day simple moving average is $141.68.

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

Owens Corning Announces Dividend

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

Insiders Place Their Bets

In other news, insider Gunner Smith sold 657 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $153.36, for a total value of $100,757.52. Following the completion of the sale, the insider now directly owns 37,587 shares of the company’s stock, valued at approximately $5,764,342.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Gunner Smith sold 657 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $153.36, for a total value of $100,757.52. Following the sale, the insider now owns 37,587 shares of the company’s stock, valued at $5,764,342.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Chambers sold 9,100 shares of Owens Corning stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the transaction, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The disclosure for this sale can be found here. Insiders have sold 21,672 shares of company stock valued at $3,325,799 over the last ninety days. 0.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OC shares. JPMorgan Chase & Co. dropped their price objective on Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 20th. UBS Group reduced their price target on shares of Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Barclays downgraded shares of Owens Corning from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $170.00 to $160.00 in a research report on Monday, February 12th. The Goldman Sachs Group lifted their target price on shares of Owens Corning from $130.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, December 14th. Finally, Truist Financial raised their price target on Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, February 15th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $157.43.

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.