Owens Corning (NYSE:OC) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC lessened its stake in Owens Corning (NYSE:OC) by 60.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,885 shares of the construction company’s stock after selling 11,837 shares during the quarter. Guggenheim Capital LLC’s holdings in Owens Corning were worth $1,343,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new stake in Owens Corning during the fourth quarter valued at about $28,000. Venturi Wealth Management LLC lifted its stake in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after purchasing an additional 63 shares in the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Owens Corning during the 4th quarter worth about $31,000. Wilmington Savings Fund Society FSB increased its position in Owens Corning by 193.7% during the 4th 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 in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in Owens Corning in the fourth quarter valued at approximately $34,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays decreased their price objective on shares of Owens Corning from $215.00 to $179.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada lowered their price target on Owens Corning from $212.00 to $199.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Owens Corning in a research note on Tuesday, April 1st. They set a “buy” rating and a $183.00 price objective on the stock. Wells Fargo & Company dropped their target price on Owens Corning from $200.00 to $155.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Finally, Loop Capital decreased their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.58.

Owens Corning Trading Down 2.4 %

NYSE OC opened at $134.47 on Tuesday. The company’s fifty day moving average price is $147.60 and its two-hundred day moving average price is $171.97. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. Owens Corning has a 12 month low of $123.41 and a 12 month 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.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.35. The firm 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 company earned $3.21 earnings per share. As a group, research analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 2.05%. Owens Corning’s payout ratio is 37.70%.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company’s 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 in the company, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

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.