Bank of Jackson Hole Trust Takes $50,000 Position in Owens Corning (NYSE:OC)

Bank of Jackson Hole Trust bought a new position in shares of Owens Corning (NYSE:OC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 294 shares of the construction company’s stock, valued at approximately $50,000.

Other large investors have also bought and sold shares of the company. Alpha DNA Investment Management LLC raised its position in Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after purchasing an additional 2,544 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Owens Corning by 3.1% during the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock worth $1,189,000 after acquiring an additional 200 shares during the period. Penserra Capital Management LLC grew its holdings in Owens Corning by 53.3% during the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock worth $832,000 after acquiring an additional 1,643 shares during the period. Atria Investments Inc grew its holdings in Owens Corning by 93.3% during the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after acquiring an additional 6,373 shares during the period. Finally, CWA Asset Management Group LLC acquired a new stake in Owens Corning during the 3rd quarter worth about $1,046,000. 88.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

OC stock opened at $171.93 on Friday. The company has a market capitalization of $14.75 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 1.94 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 52-week low of $142.12 and a 52-week high of $214.53. The business has a 50-day simple moving average of $177.95 and a two-hundred day simple moving average of $178.62.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.61%. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OC. The Goldman Sachs Group increased their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Loop Capital decreased their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Royal Bank of Canada increased their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Citigroup reduced their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $195.00 to $225.00 in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $211.30.

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.