Alaska Permanent Fund Corp Takes Position in Owens Corning (NYSE:OC)

Alaska Permanent Fund Corp acquired a new stake in Owens Corning (NYSE:OC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,860 shares of the construction company’s stock, valued at approximately $424,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Owens Corning by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,130 shares of the construction company’s stock valued at $1,205,000 after acquiring an additional 67 shares during the period. Blue Trust Inc. raised its position in Owens Corning by 42.2% in the fourth quarter. Blue Trust Inc. now owns 263 shares of the construction company’s stock worth $36,000 after acquiring an additional 78 shares in the last quarter. Caprock Group LLC boosted its position in shares of Owens Corning by 3.7% during the 4th quarter. Caprock Group LLC now owns 2,214 shares of the construction company’s stock valued at $328,000 after purchasing an additional 79 shares in the last quarter. VisionPoint Advisory Group LLC grew its stake in shares of 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 purchasing an additional 88 shares during the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Owens Corning by 1.5% in the 3rd quarter. Ballentine Partners LLC now owns 6,192 shares of the construction company’s stock worth $845,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Paula Russell sold 3,765 shares of the firm’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 sale, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Gunner Smith sold 708 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $153.73, for a total value of $108,840.84. Following the completion of the sale, the insider now directly owns 39,994 shares of the company’s stock, valued at $6,148,277.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following 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 sold a total of 21,672 shares of company stock valued at $3,325,799 in the last quarter. Insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

OC has been the topic of several research reports. Royal Bank of Canada upped their price target on Owens Corning from $175.00 to $192.00 and gave the company an “outperform” rating in a report on Thursday. Loop Capital upped their target price on Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a report on Monday, April 1st. Argus lifted their price target on Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays downgraded shares of Owens Corning from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $170.00 to $160.00 in a research report on Monday, February 12th. Finally, UBS Group lifted their price target on Owens Corning from $169.00 to $192.00 and gave the company a “buy” rating in a report on Thursday. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $168.21.

Owens Corning Stock Up 2.1 %

OC stock opened at $168.55 on Friday. The firm has a market cap of $14.61 billion, a PE ratio of 13.65, a PEG ratio of 6.97 and a beta of 1.47. Owens Corning has a 1 year low of $99.49 and a 1 year high of $173.65. The company has a fifty day simple moving average of $159.88 and a 200 day simple moving average of $146.32. The company has a current ratio of 1.76, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $2.77 EPS. Sell-side analysts anticipate that Owens Corning will post 13.92 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.42%. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

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.