ExodusPoint Capital Management LP Reduces Stake in Owens Corning (NYSE:OC)

ExodusPoint Capital Management LP reduced its holdings in Owens Corning (NYSE:OC - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 85,990 shares of the construction company's stock after selling 7,724 shares during the quarter. ExodusPoint Capital Management LP owned about 0.10% of Owens Corning worth $14,646,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in OC. Norges Bank bought a new stake in Owens Corning during the 4th quarter valued at $208,519,000. JPMorgan Chase & Co. grew its holdings in shares of Owens Corning by 113.9% during the third 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. Raymond James Financial Inc. bought a new stake in shares of Owens Corning during the fourth quarter worth about $51,220,000. Nordea Investment Management AB raised its holdings in shares of Owens Corning by 12.5% in the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock worth $366,166,000 after acquiring an additional 238,694 shares during the last quarter. Finally, LGT Group Foundation bought a new position in Owens Corning in the 4th quarter valued at about $39,054,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Stock Up 12.0 %

Owens Corning stock traded up $15.19 during mid-day trading on Wednesday, reaching $141.51. The stock had a trading volume of 1,282,286 shares, compared to its average volume of 795,168. Owens Corning has a one year low of $123.41 and a one year high of $214.53. The company has a 50-day moving average price of $154.47 and a two-hundred day moving average price of $173.98. The company has a market capitalization of $12.10 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.88 and a beta of 1.39. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

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Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping 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 firm had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.88 billion. During the same quarter in the previous year, the business earned $3.21 earnings per share. The company's revenue was up 23.3% on a year-over-year basis. On average, analysts expect 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 will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

Analysts Set New Price Targets

Several analysts have recently issued reports on OC shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $212.00 target price on shares of Owens Corning in a research note on Monday, March 17th. UBS Group decreased their price objective on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Loop Capital cut their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Citigroup decreased their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, Barclays cut their price objective on Owens Corning from $215.00 to $179.00 and set an "overweight" rating on the stock in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $199.42.

Insider Buying and Selling

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