Owens Corning (NYSE:OC) Shares Sold by Distillate Capital Partners LLC

Distillate Capital Partners LLC cut its holdings in shares of Owens Corning (NYSE:OC) by 53.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,598 shares of the construction company’s stock after selling 115,054 shares during the quarter. Distillate Capital Partners LLC’s holdings in Owens Corning were worth $16,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in OC. Norges Bank acquired a new stake in Owens Corning during the fourth quarter worth approximately $208,519,000. JPMorgan Chase & Co. increased its stake in shares of Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after acquiring an additional 424,786 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Owens Corning during the 4th quarter worth approximately $51,220,000. Nordea Investment Management AB raised its position in Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after acquiring an additional 238,694 shares in the last quarter. Finally, LGT Group Foundation acquired a new stake in shares of Owens Corning in the fourth quarter valued at about $39,054,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Citigroup lowered their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company dropped their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Finally, Loop Capital dropped their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.42.

Insider Buying and Selling at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was 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 in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Owens Corning Trading Up 3.2 %

Shares of NYSE:OC opened at $138.84 on Friday. Owens Corning has a 52-week low of $123.41 and a 52-week high of $214.53. The company has a market cap of $11.88 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.88 and a beta of 1.39. The stock’s 50-day moving average is $152.71 and its 200-day moving average is $173.49. 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 issued its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the business earned $3.21 EPS. The firm’s revenue was up 23.3% on a year-over-year basis. Equities research analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning’s dividend payout ratio is presently 37.70%.

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.