IFM Investors Pty Ltd Has $4.46 Million Position in Owens Corning (NYSE:OC)

IFM Investors Pty Ltd trimmed its position in shares of Owens Corning (NYSE:OC) by 1.8% during the first quarter, HoldingsChannel.com reports. The firm owned 26,717 shares of the construction company’s stock after selling 503 shares during the period. IFM Investors Pty Ltd’s holdings in Owens Corning were worth $4,456,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Guys Formula LLC bought a new stake in shares of Owens Corning in the first quarter worth $325,000. Norden Group LLC bought a new stake in shares of Owens Corning in the 1st quarter valued at about $2,511,000. Denali Advisors LLC bought a new stake in shares of Owens Corning in the 1st quarter valued at about $50,000. State of Michigan Retirement System increased its stake in shares of Owens Corning by 1.9% in the first quarter. State of Michigan Retirement System now owns 26,988 shares of the construction company’s stock valued at $4,502,000 after buying an additional 500 shares during the period. Finally, MV Capital Management Inc. lifted its stake in shares of Owens Corning by 112.9% in the first quarter. MV Capital Management Inc. now owns 149 shares of the construction company’s stock worth $25,000 after acquiring an additional 79 shares during the period. 88.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Owens Corning news, insider Gunner Smith sold 708 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were 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 approximately $6,148,277.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the sale, the executive vice president now directly owns 20,419 shares in the company, valued at approximately $3,307,878. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gunner Smith sold 708 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $153.73, for a total transaction of $108,840.84. Following the transaction, the insider now owns 39,994 shares of the company’s stock, valued at approximately $6,148,277.62. The disclosure for this sale can be found here. Insiders have sold 21,672 shares of company stock valued at $3,325,799 in the last three months. 0.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Citigroup increased their target price on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Truist Financial lifted their target price on shares of Owens Corning from $115.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, February 15th. Argus upped their price target on shares of Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank of Canada boosted their price objective on Owens Corning from $175.00 to $192.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Evercore ISI upped their target price on Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and an average price target of $168.21.

Owens Corning Stock Up 2.1 %

Shares of NYSE:OC traded up $3.46 during midday trading on Friday, hitting $168.50. 527,322 shares of the company’s stock were exchanged, compared to its average volume of 599,767. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 1.17. Owens Corning has a 12 month low of $99.49 and a 12 month high of $173.65. The company has a market cap of $14.60 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 6.97 and a beta of 1.47. The stock has a 50 day moving average price of $159.88 and a 200-day moving average price of $146.32.

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

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Friday, March 1st. 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.