Owens Corning (NYSE:OC) Shares Sold by Keybank National Association OH

Keybank National Association OH cut its holdings in shares of Owens Corning (NYSE:OC) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,584 shares of the construction company’s stock after selling 689 shares during the quarter. Keybank National Association OH’s holdings in Owens Corning were worth $5,379,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OC. International Assets Investment Management LLC acquired a new stake in shares of Owens Corning in the 3rd quarter valued at $156,000. Stephens Inc. AR acquired a new stake in shares of Owens Corning in the 3rd quarter valued at $718,000. Farther Finance Advisors LLC raised its holdings in shares of Owens Corning by 115.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,686 shares of the construction company’s stock valued at $474,000 after purchasing an additional 1,440 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of Owens Corning by 10.6% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,269 shares of the construction company’s stock valued at $230,000 after purchasing an additional 122 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Owens Corning by 1.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 50,375 shares of the construction company’s stock valued at $8,892,000 after purchasing an additional 835 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Trading Up 3.4 %

Shares of Owens Corning stock opened at $148.95 on Thursday. Owens Corning has a 1 year low of $140.94 and a 1 year high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company has a market capitalization of $12.74 billion, a P/E ratio of 12.68, a PEG ratio of 1.88 and a beta of 1.52. The company’s fifty day moving average is $174.41 and its two-hundred day moving average is $178.71.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the firm posted $3.21 EPS. Owens Corning’s revenue for the quarter was up 23.3% on a year-over-year basis. Analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.85%. The ex-dividend date is Monday, March 10th. Owens Corning’s payout ratio is currently 37.70%.

Insiders Place Their Bets

In other news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated 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 directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

OC has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday. Royal Bank of Canada reduced their price objective on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Citigroup cut their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company cut their price target on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and a consensus target price of $204.18.

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.