Owens Corning Inc $OC Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. raised its stake in shares of Owens Corning Inc (NYSE:OC) by 200.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 381,887 shares of the construction company’s stock after acquiring an additional 254,793 shares during the period. Pacer Advisors Inc.’s holdings in Owens Corning were worth $42,737,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in OC. Kera Capital Partners Inc. boosted its position in shares of Owens Corning by 18.7% during the 4th quarter. Kera Capital Partners Inc. now owns 3,164 shares of the construction company’s stock worth $379,000 after purchasing an additional 499 shares during the period. Virtu Financial LLC raised its position in Owens Corning by 18.4% in the fourth quarter. Virtu Financial LLC now owns 3,286 shares of the construction company’s stock valued at $368,000 after purchasing an additional 511 shares during the period. Corient Private Wealth LLC lifted its stake in Owens Corning by 46.4% during the fourth quarter. Corient Private Wealth LLC now owns 47,940 shares of the construction company’s stock worth $5,365,000 after purchasing an additional 15,197 shares in the last quarter. Alberta Investment Management Corp acquired a new position in Owens Corning during the fourth quarter worth $3,782,000. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of Owens Corning by 10.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 29,485 shares of the construction company’s stock worth $3,300,000 after buying an additional 2,702 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on OC. Truist Financial boosted their price objective on Owens Corning from $120.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Royal Bank Of Canada raised their target price on Owens Corning from $134.00 to $148.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Barclays lifted their target price on Owens Corning from $135.00 to $144.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Bank of America cut their price target on shares of Owens Corning from $140.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Finally, Zacks Research raised shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $144.82.

Insider Buying and Selling

In related news, VP Mari Doerfler sold 1,926 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $120.92, for a total transaction of $232,891.92. Following the sale, the vice president directly owned 3,093 shares in the company, valued at approximately $374,005.56. This represents a 38.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rachel Barthelemy Marcon sold 700 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $120.71, for a total transaction of $84,497.00. Following the completion of the sale, the insider directly owned 15,848 shares in the company, valued at approximately $1,913,012.08. This trade represents a 4.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is currently owned by corporate insiders.

Owens Corning Stock Down 0.0%

Owens Corning stock opened at $128.12 on Friday. The firm has a market capitalization of $10.32 billion, a P/E ratio of -19.38, a P/E/G ratio of 2.32 and a beta of 1.34. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.42. The stock’s fifty day simple moving average is $120.67 and its 200-day simple moving average is $118.44.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, May 6th. The construction company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.01 by $0.21. Owens Corning had a positive return on equity of 19.86% and a negative net margin of 5.43%.The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the firm posted $2.97 EPS. Owens Corning’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities analysts expect that Owens Corning Inc will post 9.53 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 20th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.5%. Owens Corning’s payout ratio is currently -47.81%.

Owens Corning Company Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.