Owens Corning (NYSE:OC) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lowered its stake in Owens Corning (NYSE:OC) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,307 shares of the construction company’s stock after selling 141 shares during the period. First Horizon Advisors Inc.’s holdings in Owens Corning were worth $223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Venturi Wealth Management LLC increased its holdings in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after buying an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new stake in shares of Owens Corning in the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB increased its stake 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 worth $32,000 after acquiring an additional 122 shares during the period. Brooklyn Investment Group purchased a new position in shares of Owens Corning during the third quarter worth $38,000. Finally, Bank of Jackson Hole Trust acquired a new position in Owens Corning during the fourth quarter valued at $50,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Price Performance

Owens Corning stock opened at $158.75 on Wednesday. The stock has a market capitalization of $13.62 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.88 and a beta of 1.46. The company’s fifty day moving average price is $176.48 and its 200 day moving average price is $179.01. 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 1 year low of $145.50 and a 1 year high of $214.53.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the business earned $3.21 earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued 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 dividend yield of 1.74%. Owens Corning’s payout ratio is currently 23.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Citigroup cut their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Wells Fargo & Company decreased their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday. The Goldman Sachs Group raised their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Evercore ISI boosted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and an average price target of $210.00.

Insider Activity

In other news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction 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 $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

About Owens Corning

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.