Allspring Global Investments Holdings LLC Purchases 33,783 Shares of Owens Corning (NYSE:OC)

Allspring Global Investments Holdings LLC boosted its position in shares of Owens Corning (NYSE:OC) by 19.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,956 shares of the construction company’s stock after acquiring an additional 33,783 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.24% of Owens Corning worth $34,875,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OC. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning in the fourth quarter valued at $31,000. Wilmington Savings Fund Society FSB increased its holdings in shares of Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after purchasing an additional 122 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Owens Corning in the third quarter valued at $38,000. Versant Capital Management Inc increased its holdings in shares of Owens Corning by 88.1% in the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after purchasing an additional 178 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of Owens Corning by 85.3% in the third quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock valued at $90,000 after purchasing an additional 237 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on OC. The Goldman Sachs Group upped their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Loop Capital decreased their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. UBS Group upped their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada upped their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Evercore ISI upped their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $201.75.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the 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 completion of the sale, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Owens Corning Stock Up 0.8 %

Shares of NYSE OC opened at $179.44 on Friday. The company has a 50 day simple moving average of $179.67 and a 200 day simple moving average of $178.75. The firm has a market cap of $15.39 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

Owens Corning Dividend Announcement

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 is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.54%. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

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.