Vinva Investment Management Ltd Sells 3,828 Shares of Owens Corning (NYSE:OC)

Vinva Investment Management Ltd reduced its stake in Owens Corning (NYSE:OC) by 70.4% during the 4th quarter, HoldingsChannel reports. The firm owned 1,611 shares of the construction company’s stock after selling 3,828 shares during the quarter. Vinva Investment Management Ltd’s holdings in Owens Corning were worth $273,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Stratos Wealth Partners LTD. grew its stake in shares of Owens Corning by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after purchasing an additional 53 shares during the period. Greenleaf Trust grew its stake in shares of Owens Corning by 1.5% in the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after purchasing an additional 56 shares during the period. Retirement Guys Formula LLC grew its position in Owens Corning by 3.1% during the 4th quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock worth $341,000 after acquiring an additional 60 shares during the last quarter. IFP Advisors Inc grew its position in Owens Corning by 35.6% during the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock worth $40,000 after acquiring an additional 62 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in Owens Corning by 2.5% during the 4th quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock worth $439,000 after acquiring an additional 62 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OC. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Wells Fargo & Company decreased their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Citigroup decreased their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $212.00 price target on shares of Owens Corning in a research report on Monday, March 17th. Finally, UBS Group decreased their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $204.18.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.89% of the stock is currently owned by company insiders.

Owens Corning Stock Performance

OC stock opened at $144.49 on Friday. The business’s fifty day moving average is $167.56 and its 200-day moving average is $176.53. 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 $12.36 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. Owens Corning has a twelve month low of $137.50 and a twelve month high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.21 EPS. Equities research analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

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

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.