Owens Corning (NYSE:OC) Shares Sold by Keybank National Association OH

Keybank National Association OH lessened its holdings in Owens Corning (NYSE:OC - Free Report) by 14.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,830 shares of the construction company's stock after selling 9,325 shares during the quarter. Keybank National Association OH owned about 0.06% of Owens Corning worth $5,253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of OC. Sigma Planning Corp grew its stake in shares of Owens Corning by 4.3% during the 1st quarter. Sigma Planning Corp now owns 3,543 shares of the construction company's stock worth $339,000 after purchasing an additional 145 shares during the period. Banque Pictet & Cie SA grew its stake in shares of Owens Corning by 99.1% during the 1st quarter. Banque Pictet & Cie SA now owns 13,595 shares of the construction company's stock worth $1,302,000 after purchasing an additional 6,768 shares during the period. Prime Capital Investment Advisors LLC acquired a new stake in shares of Owens Corning during the 1st quarter worth approximately $232,000. Duality Advisers LP acquired a new stake in shares of Owens Corning during the 4th quarter worth approximately $1,088,000. Finally, Clearstead Advisors LLC grew its stake in shares of Owens Corning by 13.0% during the 1st quarter. Clearstead Advisors LLC now owns 3,485 shares of the construction company's stock worth $334,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 93.43% of the company's stock.

Shares of OC stock opened at $135.66 on Friday. The stock's fifty day moving average is $132.34 and its two-hundred day moving average is $111.78. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.37 and a current ratio of 2.07. The firm has a market capitalization of $12.19 billion, a P/E ratio of 9.61, a PEG ratio of 1.31 and a beta of 1.48. Owens Corning has a fifty-two week low of $74.22 and a fifty-two week high of $143.70.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 26th. The construction company reported $4.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.25 by $0.97. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. Owens Corning had a return on equity of 25.59% and a net margin of 13.62%. The company's quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the company earned $3.83 EPS. Research analysts expect that Owens Corning will post 13.59 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 4th. Shareholders of record on Monday, July 17th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.53%. The ex-dividend date was Friday, July 14th. Owens Corning's dividend payout ratio is currently 14.74%.

A number of equities research analysts have recently commented on OC shares. Truist Financial raised their price objective on shares of Owens Corning from $105.00 to $135.00 in a research note on Thursday, July 6th. Citigroup increased their target price on Owens Corning from $132.00 to $134.00 and gave the company a "neutral" rating in a research report on Monday, July 24th. Benchmark lowered Owens Corning from a "buy" rating to a "hold" rating in a research report on Thursday, July 20th. Barclays increased their target price on Owens Corning from $161.00 to $185.00 and gave the company an "overweight" rating in a research report on Thursday, July 27th. Finally, JPMorgan Chase & Co. upgraded Owens Corning from an "underweight" rating to a "neutral" rating and increased their target price for the company from $95.00 to $133.00 in a research report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $140.92.

Get Our Latest Research Report on Owens Corning

In other news, Director W Howard Morris sold 1,033 shares of Owens Corning stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $141.63, for a total value of $146,303.79. Following the completion of the transaction, the director now owns 40,889 shares in the company, valued at approximately $5,791,109.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director W Howard Morris sold 1,033 shares of Owens Corning stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $141.63, for a total value of $146,303.79. Following the completion of the transaction, the director now owns 40,889 shares in the company, valued at approximately $5,791,109.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel T. Smith sold 3,670 shares of Owens Corning stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $106.11, for a total value of $389,423.70. Following the completion of the transaction, the executive vice president now owns 46,811 shares of the company's stock, valued at approximately $4,967,115.21. The disclosure for this sale can be found here. Insiders sold a total of 11,603 shares of company stock valued at $1,329,296 in the last three months. 0.89% of the stock is owned by corporate insiders.

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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