Nomura Asset Management Co. Ltd. Has $6.75 Million Stock Position in Owens Corning (NYSE:OC)

Nomura Asset Management Co. Ltd. reduced its stake in Owens Corning (NYSE:OC) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,599 shares of the construction company’s stock after selling 177 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Owens Corning were worth $6,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Owens Corning by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company’s stock worth $128,379,000 after acquiring an additional 24,522 shares in the last quarter. Financial Counselors Inc. bought a new stake in shares of Owens Corning in the 3rd quarter worth about $247,000. Captrust Financial Advisors increased its position in shares of Owens Corning by 20.9% during the 3rd quarter. Captrust Financial Advisors now owns 15,113 shares of the construction company’s stock worth $2,668,000 after purchasing an additional 2,613 shares in the last quarter. Verition Fund Management LLC lifted its holdings in Owens Corning by 24.7% during the 3rd quarter. Verition Fund Management LLC now owns 15,516 shares of the construction company’s stock valued at $2,739,000 after purchasing an additional 3,070 shares during the last quarter. Finally, Kestra Investment Management LLC boosted its position in Owens Corning by 41.4% in the third quarter. Kestra Investment Management LLC now owns 2,672 shares of the construction company’s stock valued at $472,000 after buying an additional 782 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Trading Up 0.1 %

Shares of NYSE OC opened at $142.81 on Tuesday. The company’s 50 day simple moving average is $163.83 and its 200 day simple moving average is $176.26. The firm has a market capitalization of $12.22 billion, a P/E ratio of 12.15, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a fifty-two week low of $137.50 and a fifty-two week high of $214.53. 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 (NYSE:OC) last posted its quarterly 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 return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the company earned $3.21 EPS. The firm’s revenue was up 23.3% on a year-over-year basis. On average, analysts predict that Owens Corning will post 15.49 EPS for the current 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 paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

OC has been the subject of a number of research analyst reports. Barclays cut their target price on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. UBS Group cut their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Finally, StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average price target of $204.18.

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.