Brandywine Global Investment Management LLC Has $11.49 Million Stake in Owens Corning (NYSE:OC)

Brandywine Global Investment Management LLC decreased its position in shares of Owens Corning (NYSE:OC) by 62.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,483 shares of the construction company’s stock after selling 110,238 shares during the period. Brandywine Global Investment Management LLC owned about 0.08% of Owens Corning worth $11,494,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other 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 transaction of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on OC shares. JPMorgan Chase & Co. cut their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Wells Fargo & Company dropped their price target on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Barclays cut their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. 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. Finally, Loop Capital cut 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 report on Friday, January 10th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Owens Corning Price Performance

Shares of OC opened at $142.81 on Tuesday. The company has a market capitalization of $12.22 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The business has a 50-day moving average of $163.83 and a 200-day moving average of $176.26. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a 1 year low of $137.50 and a 1 year high of $214.53.

Owens Corning (NYSE:OC) last issued its earnings results 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. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. Owens Corning’s revenue was up 23.3% on a year-over-year basis. As a group, equities research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend 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.