Teacher Retirement System of Texas Has $7.85 Million Position in Owens Corning (NYSE:OC)

Teacher Retirement System of Texas reduced its stake in Owens Corning (NYSE:OC) by 50.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 46,073 shares of the construction company’s stock after selling 46,096 shares during the period. Teacher Retirement System of Texas’ holdings in Owens Corning were worth $7,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Truist Financial Corp grew its stake in shares of Owens Corning by 4.0% in the fourth quarter. Truist Financial Corp now owns 16,038 shares of the construction company’s stock valued at $2,732,000 after acquiring an additional 624 shares in the last quarter. Alpha DNA Investment Management LLC grew its stake in shares of Owens Corning by 147.4% in the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after acquiring an additional 2,544 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Owens Corning by 3.1% in the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock valued at $1,189,000 after acquiring an additional 200 shares in the last quarter. Penserra Capital Management LLC grew its stake in shares of Owens Corning by 53.3% in the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after acquiring an additional 1,643 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Owens Corning by 88.9% during the fourth quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company’s stock worth $66,777,000 after purchasing an additional 184,552 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on OC shares. StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. UBS Group cut their price objective on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $212.00 price objective on shares of Owens Corning in a research report on Monday, March 17th. Finally, Citigroup cut their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.18.

Owens Corning Stock Down 1.8 %

OC stock opened at $144.49 on Friday. The firm has a 50-day moving average price of $167.56 and a 200-day moving average price of $176.64. The stock has a market capitalization of $12.36 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the business earned $3.21 EPS. As a group, equities research analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.91%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.89% of the stock is owned by company insiders.

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.