Grantham Mayo Van Otterloo & Co. LLC Reduces Holdings in Owens Corning (NYSE:OC)

Grantham Mayo Van Otterloo & Co. LLC lowered its stake in Owens Corning (NYSE:OC) by 27.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 61,090 shares of the construction company’s stock after selling 23,421 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.07% of Owens Corning worth $10,405,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of OC. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning in the fourth quarter worth $28,000. Venturi Wealth Management LLC increased its position in Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in Owens Corning in the 4th quarter valued at about $31,000. Wilmington Savings Fund Society FSB lifted its holdings 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 purchasing an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Owens Corning during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Activity

In other 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.82% of the company’s stock.

Owens Corning Stock Down 2.3 %

OC opened at $134.17 on Monday. The company has a market cap of $11.48 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. 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 $114.86 and a 1 year high of $214.53. The firm has a 50 day moving average price of $160.07 and a 200 day moving average price of $175.46.

Owens Corning (NYSE:OC) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.88 billion. During the same quarter last year, the firm posted $3.21 EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. Sell-side analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently announced 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. This represents a $2.76 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OC. Loop Capital reduced their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Wells Fargo & Company lowered their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, UBS Group lowered their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.42.

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.