Oregon Public Employees Retirement Fund Decreases Position in Owens Corning (NYSE:OC)

Oregon Public Employees Retirement Fund lowered its position in Owens Corning (NYSE:OC - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,879 shares of the construction company's stock after selling 2,552 shares during the quarter. Oregon Public Employees Retirement Fund owned approximately 0.08% of Owens Corning worth $6,503,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of OC. Householder Group Estate & Retirement Specialist LLC purchased a new position in Owens Corning in the 1st quarter worth approximately $27,000. Tobam purchased a new position in Owens Corning during the fourth quarter worth about $31,000. Belpointe Asset Management LLC acquired a new position in Owens Corning during the fourth quarter worth about $33,000. Allworth Financial LP grew its position in shares of Owens Corning by 87.8% in the first quarter. Allworth Financial LP now owns 353 shares of the construction company's stock valued at $34,000 after purchasing an additional 165 shares during the last quarter. Finally, Compass Wealth Management LLC acquired a new stake in Owens Corning during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 93.43% of the company's stock.

In related news, insider Gunner Smith sold 6,900 shares of the business's stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $115.01, for a total transaction of $793,569.00. Following the transaction, the insider now directly owns 31,153 shares in the company, valued at $3,582,906.53. The sale was disclosed in a filing with the SEC, which is available through this link. In other Owens Corning news, EVP Daniel T. Smith sold 3,670 shares of the company's stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $106.11, for a total value of $389,423.70. Following the transaction, the executive vice president now directly owns 46,811 shares in the company, valued at $4,967,115.21. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gunner Smith sold 6,900 shares of the business's stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $115.01, for a total transaction of $793,569.00. Following the completion of the sale, the insider now directly owns 31,153 shares of the company's stock, valued at approximately $3,582,906.53. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Shares of OC opened at $141.91 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.37 and a current ratio of 2.07. Owens Corning has a twelve month low of $74.22 and a twelve month high of $143.67. The firm's 50 day moving average price is $125.95 and its two-hundred day moving average price is $108.03. The firm has a market cap of $12.75 billion, a P/E ratio of 10.06 and a beta of 1.48.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The construction company reported $4.22 earnings per share for the quarter, beating analysts' consensus estimates of $3.25 by $0.97. Owens Corning had a net margin of 13.62% and a return on equity of 25.59%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm posted $3.83 earnings per share. The business's revenue was down 1.5% on a year-over-year basis. On average, analysts forecast that Owens Corning will post 12.72 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 4th. Stockholders of record on Monday, July 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.47%. Owens Corning's dividend payout ratio (DPR) is presently 14.74%.

Several brokerages have weighed in on OC. StockNews.com lowered shares of Owens Corning from a "strong-buy" rating to a "buy" rating in a report on Thursday, July 27th. JPMorgan Chase & Co. raised shares of Owens Corning from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $95.00 to $133.00 in a research report on Friday, July 28th. Loop Capital lifted their target price on shares of Owens Corning from $138.00 to $157.00 in a research note on Thursday, July 27th. Barclays boosted their price objective on shares of Owens Corning from $161.00 to $185.00 and gave the stock an "overweight" rating in a research note on Thursday, July 27th. Finally, Jefferies Financial Group increased their target price on shares of Owens Corning from $142.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 13th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $140.92.

Get Our Latest Stock Report on Owens Corning

Owens Corning engages in manufacture and sale of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, Latin America, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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