Louisiana State Employees Retirement System Sells 300 Shares of Owens Corning (NYSE:OC)

Louisiana State Employees Retirement System trimmed its stake in Owens Corning (NYSE:OC) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,800 shares of the construction company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Owens Corning were worth $4,054,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of OC. Alpha DNA Investment Management LLC lifted its holdings in Owens Corning by 147.4% in the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after buying an additional 2,544 shares during the period. Janus Henderson Group PLC raised its position in shares of Owens Corning by 3.1% in 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. Penserra Capital Management LLC raised its position in shares of Owens Corning by 53.3% in the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock worth $832,000 after acquiring an additional 1,643 shares in the last quarter. Atria Investments Inc lifted its stake in shares of Owens Corning by 93.3% in the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock valued at $2,330,000 after purchasing an additional 6,373 shares during the period. Finally, CWA Asset Management Group LLC bought a new stake in shares of Owens Corning during the third quarter valued at approximately $1,046,000. Institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

OC has been the subject of a number of research reports. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Citigroup decreased their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $192.00 to $245.00 in a research note on Wednesday, December 11th. Evercore ISI raised their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada lifted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Five research 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $201.75.

Owens Corning Stock Performance

OC stock opened at $176.12 on Thursday. The stock’s 50 day simple moving average is $180.55 and its 200 day simple moving average is $178.77. 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 $138.70 and a 12-month high of $214.53. The stock has a market capitalization of $15.11 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46.

Owens Corning Announces Dividend

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 dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is currently 23.49%.

Insider Activity at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares in the company, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred 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 sale, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

About Owens Corning

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.