Owens Corning (NYSE:OC) Shares Sold by Blueshift Asset Management LLC

Blueshift Asset Management LLC trimmed its stake in Owens Corning (NYSE:OC - Free Report) by 73.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,664 shares of the construction company's stock after selling 4,598 shares during the period. Blueshift Asset Management LLC's holdings in Owens Corning were worth $283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in shares of Owens Corning during the fourth quarter worth about $28,000. Venturi Wealth Management LLC boosted its position in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after purchasing an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new position in Owens Corning during the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB increased its position in Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after buying an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning in the fourth quarter valued at approximately $34,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is currently owned by corporate insiders.

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Owens Corning Price Performance

Shares of OC traded down $1.57 during mid-day trading on Tuesday, hitting $149.61. The company's stock had a trading volume of 884,567 shares, compared to its average volume of 744,938. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 1-year low of $137.50 and a 1-year high of $214.53. The firm has a market capitalization of $12.80 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.88 and a beta of 1.52. The firm has a 50-day simple moving average of $166.70 and a 200 day simple moving average of $176.65.

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

Owens Corning Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.84%. Owens Corning's payout ratio is currently 37.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on OC shares. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Citigroup dropped 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. JPMorgan Chase & Co. reduced their target price on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company lowered 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. Finally, UBS Group reduced 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 equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Owens Corning presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.18.

Owens Corning 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.