Amundi Sells 116,612 Shares of Owens Corning (NYSE:OC)

Amundi reduced its holdings in Owens Corning (NYSE:OC - Free Report) by 15.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 623,545 shares of the construction company's stock after selling 116,612 shares during the quarter. Amundi owned approximately 0.73% of Owens Corning worth $106,494,000 at the end of the most recent reporting period.

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

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Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OC. Citigroup decreased their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Loop Capital lowered their price target on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, January 10th. StockNews.com lowered shares of Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Barclays dropped their target price on shares of Owens Corning from $245.00 to $215.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Finally, UBS Group decreased their price objective on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Owens Corning currently has a consensus rating of "Moderate Buy" and a consensus price target of $204.18.

Owens Corning Stock Performance

NYSE:OC traded up $3.58 during mid-day trading on Wednesday, reaching $143.04. 423,198 shares of the company's stock were exchanged, compared to its average volume of 924,702. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market capitalization of $12.24 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. Owens Corning has a one year low of $137.50 and a one year high of $214.53. The business's fifty day simple moving average is $171.71 and its two-hundred day simple moving average is $177.99.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the company earned $3.21 EPS. Analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given 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 yield of 1.93%. Owens Corning's dividend payout ratio is currently 37.70%.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction that occurred 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 approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.89% of the company's stock.

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.