Franklin Resources Inc. Sells 110,100 Shares of Owens Corning (NYSE:OC)

Franklin Resources Inc. lowered its stake in Owens Corning (NYSE:OC - Free Report) by 24.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 334,648 shares of the construction company's stock after selling 110,100 shares during the quarter. Franklin Resources Inc. owned about 0.39% of Owens Corning worth $56,997,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in Owens Corning during the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC increased its stake in shares of Owens Corning by 55.8% during the fourth 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 fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB lifted its position in shares of Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock valued at $32,000 after acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Owens Corning in the fourth quarter worth approximately $34,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred on Thursday, February 6th. The shares were 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 $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by insiders.

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Owens Corning Trading Up 1.5 %

NYSE:OC traded up $1.98 during trading hours on Tuesday, hitting $131.76. The stock had a trading volume of 259,026 shares, compared to its average volume of 962,679. The business's 50 day moving average is $158.84 and its 200-day moving average is $175.12. The company has a market cap of $11.27 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 1.88 and a beta of 1.39. Owens Corning has a one year low of $126.15 and a one year high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

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

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.09%. Owens Corning's dividend payout ratio (DPR) is currently 37.70%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Loop Capital lowered their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a report on Friday, January 10th. StockNews.com downgraded shares of Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Wells Fargo & Company lowered their price target on Owens Corning from $225.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday, February 25th. Finally, UBS Group lowered their price objective on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $202.42.

About Owens Corning

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.