MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Trims Stake in Owens Corning (NYSE:OC)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its position in shares of Owens Corning (NYSE:OC) by 36.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,549 shares of the construction company’s stock after selling 6,112 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Owens Corning were worth $1,789,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Global Trust Asset Management LLC purchased a new position in shares of Owens Corning during the fourth quarter valued at approximately $31,000. Brooklyn Investment Group purchased a new stake in Owens Corning in the third quarter worth $38,000. Quarry LP lifted its position in shares of Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares during the last quarter. Tobam grew its holdings in shares of Owens Corning by 38.0% in the third quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after purchasing an additional 73 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Owens Corning by 88.1% during the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after buying an additional 178 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OC has been the topic of a number of research reports. Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $195.00 to $225.00 in a research report on Tuesday, December 17th. Citigroup lowered their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Royal Bank of Canada raised their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Loop Capital reduced their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $201.75.

Insider Activity

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Stock Up 0.1 %

Owens Corning stock opened at $187.82 on Friday. Owens Corning has a 1-year low of $138.70 and a 1-year high of $214.53. The business has a fifty day moving average price of $185.49 and a 200-day moving average price of $177.82. 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 stock has a market capitalization of $16.11 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 2.05 and a beta of 1.46.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the company earned $4.15 earnings per share. The company’s quarterly revenue was up 22.9% on a year-over-year basis. Equities research analysts forecast that Owens Corning will post 15.47 EPS for the current fiscal year.

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.47%. The ex-dividend date was Monday, January 6th. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s payout ratio is presently 23.49%.

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.