Owens Corning (NYSE:OC) Shares Sold by LSV Asset Management

LSV Asset Management decreased its position in shares of Owens Corning (NYSE:OC) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,448,882 shares of the construction company’s stock after selling 38,389 shares during the period. LSV Asset Management owned about 1.69% of Owens Corning worth $246,774,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of OC. Janus Henderson Group PLC lifted its stake in Owens Corning by 3.1% during the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock worth $1,189,000 after acquiring an additional 200 shares in the last quarter. Stifel Financial Corp lifted its stake in Owens Corning by 22.0% during the 3rd quarter. Stifel Financial Corp now owns 55,129 shares of the construction company’s stock worth $9,732,000 after acquiring an additional 9,936 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in Owens Corning during the 3rd quarter worth about $425,000. National Bank of Canada FI lifted its stake in Owens Corning by 0.7% during the 3rd quarter. National Bank of Canada FI now owns 25,130 shares of the construction company’s stock worth $4,436,000 after acquiring an additional 180 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Owens Corning by 0.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 39,776 shares of the construction company’s stock worth $7,021,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OC. Citigroup cut their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Barclays cut their price target on Owens Corning from $215.00 to $179.00 and set an “overweight” rating on the stock in a report on Tuesday. Benchmark restated a “hold” rating on shares of Owens Corning in a 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, JPMorgan Chase & Co. dropped their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Five research 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $199.42.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction 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 transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.82% of the company’s stock.

Owens Corning Trading Up 12.0 %

NYSE:OC opened at $141.51 on Thursday. The stock’s 50 day moving average price is $154.47 and its 200 day moving average price is $173.98. The company has a market capitalization of $12.10 billion, a PE ratio of 12.04, a P/E/G ratio of 1.88 and a beta of 1.39. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a 52-week low of $123.41 and a 52-week high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $3.21 EPS. On average, research analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently declared 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 is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.95%. Owens Corning’s dividend payout ratio is currently 37.70%.

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.