Owens Corning (NYSE:OC) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lowered its position in Owens Corning (NYSE:OC) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,092 shares of the construction company’s stock after selling 401 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Owens Corning were worth $1,378,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in Owens Corning in the 4th quarter valued at approximately $28,000. Venturi Wealth Management LLC lifted its stake in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after buying an additional 63 shares in the last quarter. Global Trust Asset Management LLC purchased a new stake in Owens Corning in the 4th quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB lifted its stake in Owens Corning by 193.7% in the 4th 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 in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction on Thursday, February 6th. The stock was 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 in the company, valued at approximately $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 accessible through the SEC website. 0.89% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on OC. UBS Group reduced their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Citigroup reduced their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Loop Capital reduced their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Owens Corning Trading Down 1.8 %

OC stock opened at $144.49 on Friday. The company has a market cap of $12.36 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.88 and a beta of 1.52. 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 business has a fifty day simple moving average of $167.56 and a 200-day simple moving average of $176.53. Owens Corning has a 52 week low of $137.50 and a 52 week high of $214.53.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the firm earned $3.21 EPS. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, equities research analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

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

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.