Tredje AP fonden Lowers Holdings in Owens Corning (NYSE:OC)

Tredje AP fonden trimmed its stake in shares of Owens Corning (NYSE:OC) by 50.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,985 shares of the construction company’s stock after selling 12,984 shares during the period. Tredje AP fonden’s holdings in Owens Corning were worth $2,212,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of OC. FPC Investment Advisory Inc. acquired a new stake in shares of Owens Corning during the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC boosted its holdings in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after buying an additional 63 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in Owens Corning during the fourth quarter valued at $31,000. Wilmington Savings Fund Society FSB grew its position in Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after buying an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new position in Owens Corning in the fourth quarter valued at $34,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OC has been the topic of a number of analyst reports. Barclays dropped their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Citigroup reduced their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Loop Capital cut their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Royal Bank of Canada decreased their price objective on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.18.

Owens Corning Stock Performance

OC opened at $137.89 on Friday. Owens Corning has a twelve month low of $137.50 and a twelve month high of $214.53. The firm has a market capitalization of $11.80 billion, a PE ratio of 11.74, a PEG ratio of 1.88 and a beta of 1.52. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm’s 50-day moving average price is $171.15 and its 200 day moving average price is $177.74.

Owens Corning (NYSE:OC) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the previous 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. As a group, sell-side analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.00%. The ex-dividend date is Monday, March 10th. Owens Corning’s payout ratio is currently 37.70%.

Insiders Place Their Bets

In other news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred 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 sale, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.89% 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.