ExodusPoint Capital Management LP Sells 7,724 Shares of Owens Corning (NYSE:OC)

ExodusPoint Capital Management LP reduced its position in Owens Corning (NYSE:OC) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,990 shares of the construction company’s stock after selling 7,724 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Owens Corning were worth $14,646,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of OC. FPC Investment Advisory Inc. purchased a new position in Owens Corning during the fourth quarter worth about $28,000. Venturi Wealth Management LLC grew its holdings in shares of Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares in the last quarter. Global Trust Asset Management LLC bought a new position in shares of Owens Corning in the fourth quarter worth approximately $31,000. Wilmington Savings Fund Society FSB raised its stake in Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after purchasing an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Owens Corning during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OC. UBS Group lowered their price objective 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. Deutsche Bank Aktiengesellschaft began coverage on Owens Corning in a research report on Tuesday. They set a “buy” rating and a $183.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $212.00 price objective on shares of Owens Corning in a report on Monday, March 17th. JPMorgan Chase & Co. decreased their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Loop Capital cut their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus price target of $202.42.

Owens Corning Trading Down 6.7 %

NYSE:OC opened at $137.31 on Friday. The firm has a market capitalization of $11.75 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a 52 week low of $134.08 and a 52 week high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company has a fifty day moving average of $161.14 and a 200 day moving average of $175.64.

Owens Corning (NYSE:OC) last posted its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the business posted $3.21 earnings per share. Owens Corning’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, research analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.01%. 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.