Tokio Marine Asset Management Co. Ltd. Acquires 225 Shares of Owens Corning (NYSE:OC)

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Owens Corning (NYSE:OC) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,115 shares of the construction company’s stock after purchasing an additional 225 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Owens Corning were worth $462,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. LSV Asset Management increased its stake in shares of Owens Corning by 0.9% during the third quarter. LSV Asset Management now owns 2,256,436 shares of the construction company’s stock valued at $307,800,000 after buying an additional 19,590 shares during the period. Invesco Ltd. increased its stake in shares of Owens Corning by 156.1% during the third quarter. Invesco Ltd. now owns 1,487,665 shares of the construction company’s stock valued at $202,932,000 after buying an additional 906,782 shares during the period. Northern Trust Corp increased its stake in shares of Owens Corning by 4.9% during the third quarter. Northern Trust Corp now owns 1,014,106 shares of the construction company’s stock valued at $138,334,000 after buying an additional 47,212 shares during the period. Pacer Advisors Inc. increased its stake in shares of Owens Corning by 6,116.6% during the fourth quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company’s stock valued at $123,415,000 after buying an additional 819,201 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Owens Corning by 15.1% during the fourth quarter. Nordea Investment Management AB now owns 717,743 shares of the construction company’s stock valued at $106,556,000 after buying an additional 94,185 shares during the period. 88.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Paula Russell sold 3,765 shares of Owens Corning stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the sale, the executive vice president now owns 20,419 shares of the company’s stock, valued at $3,307,878. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gunner Smith sold 7,442 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total value of $1,108,783.58. Following the completion of the transaction, the insider now directly owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The disclosure for this sale can be found here. Insiders sold 21,672 shares of company stock valued at $3,325,799 over the last quarter. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on OC. Argus raised their price target on Owens Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday. Truist Financial lifted their target price on Owens Corning from $115.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. Loop Capital lifted their target price on Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Royal Bank of Canada lifted their target price on Owens Corning from $175.00 to $192.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their target price on Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 20th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and an average target price of $168.21.

Owens Corning Trading Up 2.1 %

Owens Corning stock opened at $168.50 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.76 and a debt-to-equity ratio of 0.50. Owens Corning has a 52 week low of $99.49 and a 52 week high of $173.65. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 7.12 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 $146.41.

Owens Corning (NYSE:OC) last released its earnings results 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 the consensus estimate of $2.28 billion. During the same quarter in the previous year, the company posted $2.77 earnings per share. The company’s revenue was down 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Owens Corning will post 14.74 EPS for the current 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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is 19.43%.

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.