AlphaQuest LLC Decreases Stake in Owens Corning (NYSE:OC)

AlphaQuest LLC lowered its stake in shares of Owens Corning (NYSE:OC - Free Report) by 44.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,933 shares of the construction company's stock after selling 4,007 shares during the quarter. AlphaQuest LLC's holdings in Owens Corning were worth $840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Concurrent Investment Advisors LLC grew its stake in shares of Owens Corning by 16.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 2,207 shares of the construction company's stock worth $390,000 after buying an additional 314 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Owens Corning during the third quarter valued at $1,046,000. Verdence Capital Advisors LLC raised its position in shares of Owens Corning by 7.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,554 shares of the construction company's stock worth $274,000 after purchasing an additional 112 shares during the last quarter. Atria Investments Inc raised its position in shares of Owens Corning by 93.3% in the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company's stock worth $2,330,000 after purchasing an additional 6,373 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Owens Corning by 562.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 72,621 shares of the construction company's stock valued at $12,819,000 after purchasing an additional 61,664 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

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Owens Corning Stock Up 2.2 %

Shares of NYSE OC traded up $3.07 during mid-day trading on Wednesday, reaching $142.53. 448,515 shares of the company were exchanged, compared to its average volume of 925,235. The firm has a 50-day moving average of $171.71 and a 200 day moving average of $177.99. Owens Corning has a 1 year low of $137.50 and a 1 year 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 stock has a market cap of $12.19 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 1.88 and a beta of 1.52.

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

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning's dividend payout ratio is currently 37.70%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on OC shares. Citigroup decreased their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Wells Fargo & Company dropped their price target on shares of Owens Corning from $225.00 to $200.00 and set an "overweight" rating on the stock in a report on Tuesday, February 25th. Benchmark reissued a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Finally, 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. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Owens Corning has an average rating of "Moderate Buy" and an average price target of $204.18.

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.