Charles Schwab Investment Management Inc. Cuts Stock Holdings in Owens Corning (NYSE:OC)

Charles Schwab Investment Management Inc. decreased its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 0.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 589,930 shares of the construction company's stock after selling 3,224 shares during the period. Charles Schwab Investment Management Inc. owned 0.69% of Owens Corning worth $100,477,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of OC. FPC Investment Advisory Inc. purchased a new position in Owens Corning during the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC boosted its position in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after purchasing an additional 63 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB raised its stake in shares of Owens Corning by 193.7% during the 4th 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 acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $34,000. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OC shares. JPMorgan Chase & Co. reduced their price objective on Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Wells Fargo & Company cut their target price on Owens Corning from $225.00 to $200.00 and set an "overweight" rating for the company in a research note on Tuesday, February 25th. Royal Bank of Canada cut their target price on Owens Corning from $224.00 to $212.00 and set an "outperform" rating for the company in a research note on Tuesday, February 25th. StockNews.com cut Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Barclays lowered their price target on Owens Corning from $245.00 to $215.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $204.18.

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Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 18,866 shares of the company's stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company's stock.

Owens Corning Stock Performance

Shares of OC opened at $144.54 on Monday. The stock has a 50-day simple moving average of $172.91 and a 200-day simple moving average of $178.38. 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 stock has a market capitalization of $12.36 billion, a PE ratio of 12.30, a PEG ratio of 1.88 and a beta of 1.52. Owens Corning has a 1 year low of $140.94 and a 1 year high of $214.53.

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

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders 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 dividend yield of 1.91%. The ex-dividend date is Monday, March 10th. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

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.

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