Boston Common Asset Management LLC Lowers Holdings in Owens Corning (NYSE:OC)

Boston Common Asset Management LLC trimmed its position in Owens Corning (NYSE:OC - Free Report) by 29.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 25,532 shares of the construction company's stock after selling 10,658 shares during the period. Boston Common Asset Management LLC's holdings in Owens Corning were worth $4,349,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. grew its position in shares of Owens Corning by 168.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company's stock valued at $128,772,000 after acquiring an additional 464,981 shares during the period. Pacer Advisors Inc. grew its holdings in Owens Corning by 38.9% during the second quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company's stock valued at $276,655,000 after purchasing an additional 446,073 shares during the period. JPMorgan Chase & Co. increased its position in Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock worth $140,818,000 after buying an additional 424,786 shares during the last quarter. Goldentree Asset Management LP bought a new stake in shares of Owens Corning in the third quarter valued at $43,559,000. Finally, Nordea Investment Management AB lifted its position in shares of Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock valued at $366,166,000 after buying an additional 238,694 shares during the last quarter. Institutional investors own 88.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada lifted their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. Barclays raised shares of Owens Corning from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Citigroup lowered their target price on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, UBS Group raised their price target on Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $201.75.

Owens Corning Price Performance

Shares of Owens Corning stock traded up $3.58 during trading on Friday, hitting $182.86. 593,721 shares of the stock traded hands, compared to its average volume of 823,285. The stock has a market cap of $15.69 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.84 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53. The firm's fifty day moving average is $186.08 and its 200-day moving average is $177.30.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating analysts' consensus estimates of $4.05 by $0.33. The business had revenue of $3.05 billion for the quarter, compared to analysts' expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business's quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the business earned $4.15 earnings per share. Research analysts expect that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were paid a $0.69 dividend. The ex-dividend date was Monday, January 6th. This is an increase from Owens Corning's previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.51%. Owens Corning's payout ratio is currently 23.49%.

Insider Activity

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares of the company's stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.90% 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.