Foundry Partners LLC Decreases Stock Position in Owens Corning (NYSE:OC)

Foundry Partners LLC reduced its stake in shares of Owens Corning (NYSE:OC) by 27.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,515 shares of the construction company’s stock after selling 946 shares during the quarter. Foundry Partners LLC’s holdings in Owens Corning were worth $428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of OC. FPC Investment Advisory Inc. bought a new position in Owens Corning in the 4th quarter valued at $28,000. Venturi Wealth Management LLC increased its stake 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 bought a new stake in Owens Corning during the 4th quarter valued at about $31,000. Wilmington Savings Fund Society FSB boosted its position in Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after buying an additional 122 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in Owens Corning in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Activity

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The shares were 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 owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Owens Corning Stock Down 2.3 %

OC stock opened at $134.17 on Friday. The firm has a market cap of $11.48 billion, a PE ratio of 11.42, a P/E/G ratio of 1.88 and a beta of 1.39. The firm’s fifty day moving average is $160.07 and its 200 day moving average is $175.44. 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 one year low of $126.15 and a one year high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.21 EPS. On average, research analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given 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 2.06%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on OC shares. Deutsche Bank Aktiengesellschaft initiated coverage on Owens Corning in a research note on Tuesday, April 1st. They issued a “buy” rating and a $183.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $212.00 price target on shares of Owens Corning in a report on Monday, March 17th. Loop Capital decreased their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Barclays dropped their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and an average target price of $202.42.

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.