Allianz Asset Management GmbH Sells 429,680 Shares of Owens Corning (NYSE:OC)

Allianz Asset Management GmbH lessened its holdings in Owens Corning (NYSE:OC) by 37.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 705,056 shares of the construction company’s stock after selling 429,680 shares during the period. Allianz Asset Management GmbH owned approximately 0.82% of Owens Corning worth $120,085,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Venturi Wealth Management LLC increased its position in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in Owens Corning in the fourth quarter worth $31,000. Wilmington Savings Fund Society FSB increased its position in Owens Corning by 193.7% in the fourth 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 during the last quarter. Brooklyn Investment Group bought a new stake in Owens Corning in the third quarter worth $38,000. Finally, Bank of Jackson Hole Trust bought a new stake in Owens Corning in the fourth quarter worth $50,000. Institutional investors own 88.40% of the company’s stock.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated 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 directly owns 11,635 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on OC shares. The Goldman Sachs Group boosted their price target on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. UBS Group lifted their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Loop Capital dropped their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Finally, Citigroup dropped their price objective 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. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.30.

Owens Corning Stock Down 1.3 %

Shares of OC opened at $171.93 on Friday. The firm has a market capitalization of $14.75 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.90 and a beta of 1.46. Owens Corning has a 12-month low of $142.12 and a 12-month high of $214.53. 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 has a fifty day moving average price of $177.95 and a 200-day moving average price of $178.62.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is currently 23.49%.

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.