Aviva PLC Sells 178,673 Shares of Owens Corning (NYSE:OC)

Aviva PLC decreased its position in shares of Owens Corning (NYSE:OC - Free Report) by 78.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,116 shares of the construction company's stock after selling 178,673 shares during the period. Aviva PLC owned about 0.06% of Owens Corning worth $8,365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nordea Investment Management AB lifted its position in shares of Owens Corning by 12.5% during the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock worth $366,166,000 after purchasing an additional 238,694 shares in the last quarter. Norges Bank acquired a new position in Owens Corning during the 4th quarter worth $208,519,000. JPMorgan Chase & Co. boosted its position in Owens Corning by 113.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock valued at $140,818,000 after buying an additional 424,786 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Owens Corning by 2.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 640,506 shares of the construction company's stock valued at $109,091,000 after buying an additional 16,958 shares during the period. Finally, AustralianSuper Pty Ltd raised its position in shares of Owens Corning by 1.8% during the fourth quarter. AustralianSuper Pty Ltd now owns 593,831 shares of the construction company's stock worth $101,141,000 after acquiring an additional 10,448 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

OC has been the topic of several recent research reports. Wells Fargo & Company decreased their price target on Owens Corning from $225.00 to $200.00 and set an "overweight" rating on the stock in a report on Tuesday, February 25th. Benchmark reiterated a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Barclays dropped their price target on shares of Owens Corning from $215.00 to $179.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Loop Capital reduced their price objective on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Finally, StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.42.

Owens Corning Stock Up 3.2 %

Shares of NYSE:OC traded up $4.36 during midday trading on Friday, reaching $138.84. The company had a trading volume of 1,018,788 shares, compared to its average volume of 799,733. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53. The stock has a market cap of $11.88 billion, a PE ratio of 11.82, a P/E/G ratio of 1.88 and a beta of 1.39. 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 business's 50 day moving average price is $152.71 and its 200 day moving average price is $173.49.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.21 EPS. Research analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

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

Insider Transactions at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business's 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 sale, the insider now owns 11,635 shares of the company's stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.82% of the stock is currently owned by corporate insiders.

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.