Amalgamated Bank Sells 1,218 Shares of Owens Corning (NYSE:OC)

Amalgamated Bank decreased its position in Owens Corning (NYSE:OC) by 2.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,178 shares of the construction company’s stock after selling 1,218 shares during the period. Amalgamated Bank’s holdings in Owens Corning were worth $7,013,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in OC. JPMorgan Chase & Co. increased its holdings in shares of Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after acquiring an additional 424,786 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Owens Corning by 16.4% in the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after purchasing an additional 261,564 shares during the period. Goldentree Asset Management LP bought a new stake in Owens Corning during the 3rd quarter worth approximately $43,559,000. Nordea Investment Management AB raised its holdings in Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after buying an additional 238,694 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Owens Corning by 31.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock valued at $145,455,000 after buying an additional 197,667 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday. Loop Capital reduced their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Barclays decreased their price objective on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Citigroup cut their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $207.00.

Owens Corning Stock Down 3.2 %

NYSE:OC opened at $153.92 on Thursday. Owens Corning has a twelve month low of $147.20 and a twelve month high of $214.53. The firm has a market capitalization of $13.20 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock’s 50 day moving average price is $176.07 and its two-hundred day moving average price is $178.84.

Owens Corning (NYSE:OC) last released its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period last year, the business earned $3.21 earnings per share. The firm’s revenue was up 23.3% on a year-over-year basis. Equities research analysts expect 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. Stockholders of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.79%. Owens Corning’s payout ratio is 23.49%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following 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 disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

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.