Owens Corning (NYSE:OC) Shares Sold by Kendall Capital Management

Kendall Capital Management reduced its stake in Owens Corning (NYSE:OC) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,645 shares of the construction company’s stock after selling 110 shares during the period. Kendall Capital Management’s holdings in Owens Corning were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new stake in shares of Owens Corning in the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC raised its holdings 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 worth $30,000 after purchasing an additional 63 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Owens Corning in the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB raised its holdings in shares of Owens Corning by 193.7% in 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 bought a new stake in shares of Owens Corning in the 4th quarter worth approximately $34,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Stock Performance

OC stock opened at $144.54 on Monday. 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 capitalization of $12.36 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a 12 month low of $140.94 and a 12 month high of $214.53. The firm has a 50 day moving average of $172.91 and a two-hundred day moving average of $178.38.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.21 EPS. As a group, equities analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is currently 37.70%.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gunner Smith sold 17,450 shares of the stock in a transaction 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 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. 0.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on OC shares. Loop Capital dropped their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Citigroup cut their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. cut their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Barclays dropped their price objective on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $204.18.

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.