Proficio Capital Partners LLC Acquires Shares in Owens Corning

Proficio Capital Partners LLC has recently acquired a new position in Owens Corning (NYSE:OC) during the fourth quarter, as reported by Holdings Channel. The investment firm purchased 134,048 shares, which is valued at approximately $22,831,000.

Additionally, other institutional investors have adjusted their holdings in Owens Corning. State Street Corp enhanced its stake by 4.7% in the third quarter. They now hold 4,181,421 shares worth about $738,104,000 after acquiring an extra 187,001 shares during that period. Moreover, Nordea Investment Management AB increased its stake by 12.5% in the fourth quarter, owning 2,148,610 shares valued at $366,166,000 following the purchase of 238,694 shares. Pacer Advisors Inc. also increased its shareholding by 16.4% in the third quarter, now possessing 1,854,100 shares worth $327,286,000 after buying an additional 261,564 shares. Caisse DE Depot ET Placement DU Quebec grew its stake by 31.6% in the third quarter, now owning 824,013 shares valued at $145,455,000 after purchasing 197,667 shares. Lastly, JPMorgan Chase & Co. increased its holdings by a remarkable 113.9% in the third quarter, now holding 797,743 shares worth $140,818,000 after adding 424,786 shares.

Insider Transactions at Owens Corning

In other news related to Owens Corning, insider Monaco Nicolas Del sold 1,750 shares on February 6th. This trade was conducted at an average price of $183.97, totaling $321,947.50. After this sale, Del now owns 11,635 shares, valued at about $2,140,490.95, representing a decrease of 13.07% in their position. The details of this transaction have been filed with the Securities and Exchange Commission.

Owens Corning Stock Performance

As of Friday, shares of Owens Corning opened at $144.09. The stock has experienced a one-year low of $137.50 and a high of $214.53. Current statistics reveal a current ratio of 1.44, a quick ratio of 0.85, and a debt-to-equity ratio of 0.89, placing its market capitalization at $12.33 billion. The price-to-earnings (PE) ratio is 12.26, with a PEG ratio of 1.88 and a beta of 1.52. The 50-day moving average is $169.96, while the 200-day moving average stands at $177.28.

Owens Corning reported its quarterly earnings on February 24th. The company announced earnings of $3.22 per share, surpassing analysts' expectations of $2.87 by $0.35. The company had a net margin of 9.92% and a return on equity of 25.82%, with revenues of $2.84 billion, slightly below the forecasts of $2.88 billion. Year-over-year, the quarterly revenue increased by 23.3%. Analysts currently project Owens Corning will achieve earnings of $15.49 per share this fiscal year.

Dividend Announcement

Owens Corning has also declared a quarterly dividend to be distributed on April 10th. Shareholders on record by March 10th will receive a $0.69 dividend, indicating an annualized figure of $2.76 and a yield of 1.92%. The ex-dividend date is set for March 10th, and the company's dividend payout ratio remains at 37.70%.

Analysts' Price Predictions

The stock has attracted attention from various research firms. UBS Group reduced its price target from $245.00 to $235.00 while maintaining a "buy" rating. Barclays has lowered its target from $245.00 to $215.00 and gave an "overweight" rating. Similarly, JPMorgan Chase & Co. dropped the target to $176.00 with a neutral stance. In contrast, StockNews.com has downgraded Owens Corning from a "buy" to a "hold" rating. Loop Capital adjusted its target price from $215.00 to $210.00, also issuing a "buy" recommendation. In summary, five analysts recommend holding the stock, while eight suggest buying it, resulting in an average rating of "Moderate Buy" and a consensus target price of $204.18.

Overview of Owens Corning

Owens Corning is a global manufacturer specializing in building and construction materials across the United States, Europe, the Asia Pacific, and other regions. The company operates in three main segments: Roofing, Insulation, and Composites, providing a range of products for both residential and commercial construction applications.

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