Vanguard Group Inc. Sells 76,681 Shares of Owens Corning (NYSE:OC)

Vanguard Group Inc. lowered its stake in Owens Corning (NYSE:OC) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,761,830 shares of the construction company’s stock after selling 76,681 shares during the quarter. Vanguard Group Inc. owned 10.21% of Owens Corning worth $1,492,315,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Owens Corning by 4.7% during the third quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock valued at $738,104,000 after purchasing an additional 187,001 shares during the period. Nordea Investment Management AB raised its stake in Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after buying an additional 238,694 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Owens Corning by 31.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock worth $145,455,000 after acquiring an additional 197,667 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after acquiring an additional 424,786 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 valued at $128,379,000 after acquiring an additional 24,522 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

OC has been the subject of several research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $212.00 price target on shares of Owens Corning in a research report on Monday, March 17th. Wells Fargo & Company lowered their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Barclays cut their price target on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price objective 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. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.18.

Owens Corning Trading Down 0.3 %

NYSE:OC opened at $147.25 on Friday. Owens Corning has a 1 year low of $137.50 and a 1 year high of $214.53. The stock’s fifty day moving average price is $165.43 and its two-hundred day moving average price is $176.25. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company has a market cap of $12.60 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 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 during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the company earned $3.21 EPS. The firm’s revenue was up 23.3% compared to the same quarter last year. As a group, analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Insider Activity

In other 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 completion of the sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.89% of the company’s stock.

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.