Owens Corning (NYSE:OC) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its stake in shares of Owens Corning (NYSE:OC) by 42.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,101 shares of the construction company’s stock after selling 8,235 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Owens Corning were worth $1,891,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of OC. State Street Corp lifted its stake 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 worth $738,104,000 after purchasing an additional 187,001 shares in the last quarter. Nordea Investment Management AB lifted its holdings 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 last quarter. 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 purchasing an additional 197,667 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Owens Corning by 113.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after buying an additional 424,786 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Owens Corning by 3.5% in 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 during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Trading Down 0.3 %

OC opened at $147.25 on Friday. 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 has a twelve month low of $137.50 and a twelve month high of $214.53. The firm’s fifty day moving average is $165.43 and its two-hundred day moving average is $176.25. The firm has a market cap of $12.60 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52.

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, topping analysts’ consensus estimates 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 analysts’ expectations of $2.88 billion. During the same period in the prior year, the business earned $3.21 EPS. Owens Corning’s revenue for the quarter was up 23.3% compared to the same quarter last year. Equities research analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.87%. Owens Corning’s dividend payout ratio is currently 37.70%.

Analyst Upgrades and Downgrades

Several research firms have commented on OC. Citigroup decreased their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $212.00 target price on shares of Owens Corning in a research note on Monday, March 17th. JPMorgan Chase & Co. decreased their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Loop Capital cut their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.18.

Insider Buying and Selling

In other news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.89% of the stock is owned by corporate insiders.

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.