Boston Common Asset Management LLC Has $4.35 Million Stake in Owens Corning (NYSE:OC)

Boston Common Asset Management LLC trimmed its holdings in Owens Corning (NYSE:OC) by 29.5% in the fourth quarter, Holdings Channel reports. The fund owned 25,532 shares of the construction company’s stock after selling 10,658 shares during the period. Boston Common Asset Management LLC’s holdings in Owens Corning were worth $4,349,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new stake in shares of Owens Corning in the third quarter valued at about $38,000. Quarry LP lifted its holdings in shares of Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after purchasing an additional 144 shares in the last quarter. Tobam lifted its holdings in shares of Owens Corning by 38.0% in the third quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Owens Corning by 88.1% in the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after purchasing an additional 178 shares in the last quarter. Finally, NBC Securities Inc. lifted its holdings in shares of Owens Corning by 85.3% in the third quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock valued at $90,000 after purchasing an additional 237 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on OC shares. Wells Fargo & Company upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. The Goldman Sachs Group upped their target price on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Citigroup dropped their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada upped their target price on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, UBS Group upped their target price on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.75.

Owens Corning Price Performance

Shares of NYSE OC opened at $182.86 on Friday. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The business’s 50 day moving average price is $186.08 and its two-hundred day moving average price is $177.30. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company has a market cap of $15.69 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.84 and a beta of 1.46.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the business earned $4.15 earnings per share. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, analysts predict that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were given a dividend of $0.69 per share. The ex-dividend date was Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a yield of 1.51%. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio is currently 23.49%.

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.