Mitsubishi UFJ Trust & Banking Corp Has $26.60 Million Holdings in Owens Corning (NYSE:OC)

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Owens Corning (NYSE:OC) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,175 shares of the construction company’s stock after selling 8,211 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.18% of Owens Corning worth $26,600,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. CoreFirst Bank & Trust bought a new stake in Owens Corning during the 4th quarter valued at approximately $150,000. LPL Financial LLC lifted its holdings in shares of Owens Corning by 43.9% during the fourth quarter. LPL Financial LLC now owns 76,747 shares of the construction company’s stock worth $13,072,000 after buying an additional 23,427 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Owens Corning in the fourth quarter worth $648,000. KLP Kapitalforvaltning AS bought a new position in Owens Corning during the fourth quarter worth $21,093,000. Finally, Hillsdale Investment Management Inc. raised its stake in Owens Corning by 4.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 4,580 shares of the construction company’s stock valued at $780,000 after purchasing an additional 200 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is currently owned by corporate insiders.

Owens Corning Stock Down 1.0 %

OC opened at $147.77 on Thursday. Owens Corning has a twelve month low of $137.50 and a twelve month high of $214.53. The firm has a market cap of $12.64 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.88 and a beta of 1.52. The firm’s 50-day simple moving average is $166.07 and its 200-day simple moving average is $176.45. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

Owens Corning (NYSE:OC) last posted its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted $3.21 earnings per share. Equities research analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

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 dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, March 10th. Owens Corning’s payout ratio is presently 37.70%.

Wall Street Analyst Weigh In

Several research firms have issued reports on OC. UBS Group decreased their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Citigroup decreased their target price 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. Barclays cut their price target on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada reissued an “outperform” rating and set a $212.00 price objective on shares of Owens Corning in a report on Monday, March 17th. Finally, StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research note 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.