Owens Corning (NYSE:OC) Shares Sold by Cozad Asset Management Inc.

Cozad Asset Management Inc. lowered its stake in shares of Owens Corning (NYSE:OC) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,520 shares of the construction company’s stock after selling 2,557 shares during the quarter. Owens Corning makes up about 1.0% of Cozad Asset Management Inc.’s investment portfolio, making the stock its 27th largest holding. Cozad Asset Management Inc. owned approximately 0.07% of Owens Corning worth $10,308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning during the fourth quarter valued at $28,000. Venturi Wealth Management LLC lifted its holdings in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares during the period. Global Trust Asset Management LLC acquired a new stake in Owens Corning in the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB lifted its holdings in 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 purchasing an additional 122 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in Owens Corning in the fourth quarter worth about $34,000. 88.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on OC shares. Loop Capital dropped 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 report on Friday, January 10th. UBS Group dropped their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Barclays cut their price objective on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $204.18.

Owens Corning Price Performance

Shares of OC opened at $144.09 on Monday. The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a fifty-two week low of $137.50 and a fifty-two week 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. The business’s 50-day moving average is $169.96 and its 200-day moving average is $177.43.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.21 EPS. Equities research analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.92%. Owens Corning’s payout ratio is 37.70%.

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 that occurred on 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 sale, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is currently owned by company insiders.

Owens Corning 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.