BI Asset Management Fondsmaeglerselskab A S Has $12.08 Million Stock Holdings in Owens Corning (NYSE:OC)

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of Owens Corning (NYSE:OC) by 4.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 70,917 shares of the construction company’s stock after selling 3,600 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Owens Corning were worth $12,079,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of OC. Truist Financial Corp grew its position in shares of Owens Corning by 4.0% in the fourth quarter. Truist Financial Corp now owns 16,038 shares of the construction company’s stock valued at $2,732,000 after purchasing an additional 624 shares during the last quarter. Allstate Corp acquired a new stake in Owens Corning during the fourth quarter worth $425,000. Integrated Quantitative Investments LLC bought a new stake in Owens Corning in the fourth quarter valued at $349,000. Principal Financial Group Inc. boosted its holdings in shares of Owens Corning by 88.9% in the 4th quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company’s stock worth $66,777,000 after acquiring an additional 184,552 shares in the last quarter. Finally, Empower Advisory Group LLC lifted its position in shares of Owens Corning by 1.0% during the fourth quarter. Empower Advisory Group LLC now owns 512,049 shares of the construction company’s stock worth $87,212,000 after purchasing an additional 5,167 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on OC. JPMorgan Chase & Co. dropped their target price on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Wells Fargo & Company cut their target price on Owens Corning from $200.00 to $155.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Barclays reduced their target price on Owens Corning from $215.00 to $179.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Loop Capital cut their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $194.58.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Owens Corning Trading Up 1.0 %

OC opened at $137.98 on Friday. The firm’s fifty day simple moving average is $148.43 and its 200 day simple moving average is $172.23. The stock has a market capitalization of $11.80 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.88 and a beta of 1.39. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12 month low of $123.41 and a 12 month high of $214.53.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion for 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 revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.21 EPS. As a group, research analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning’s dividend payout ratio is presently 37.70%.

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.