Globeflex Capital L P Trims Stock Holdings in Owens Corning (NYSE:OC)

Globeflex Capital L P lowered its stake in shares of Owens Corning (NYSE:OC - Free Report) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,960 shares of the construction company's stock after selling 12,460 shares during the quarter. Owens Corning comprises 1.3% of Globeflex Capital L P's portfolio, making the stock its 17th largest position. Globeflex Capital L P owned approximately 0.10% of Owens Corning worth $14,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in Owens Corning during the fourth quarter valued at $28,000. Venturi Wealth Management LLC increased its stake 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 worth $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC purchased a new position in Owens Corning during the 4th quarter valued at about $31,000. Wilmington Savings Fund Society FSB boosted its stake 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 acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning in the fourth quarter worth about $34,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Performance

Shares of NYSE OC traded up $2.72 during trading on Wednesday, reaching $147.60. 832,750 shares of the company traded hands, compared to its average volume of 735,811. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a 50 day simple moving average of $168.97 and a 200-day simple moving average of $177.11. Owens Corning has a 52-week low of $137.50 and a 52-week high of $214.53. The stock has a market capitalization of $12.63 billion, a PE ratio of 12.56, a P/E/G ratio of 1.88 and a beta of 1.52.

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Owens Corning (NYSE:OC - Get Free Report) last posted its earnings results 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 during the quarter, compared to the consensus estimate 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 was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.21 EPS. Equities research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Monday, March 10th. Owens Corning's dividend payout ratio is 37.70%.

Analyst Ratings Changes

OC has been the subject of several recent research reports. Loop Capital lowered their target price on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a report on Friday, January 10th. Barclays lowered their price objective on Owens Corning from $245.00 to $215.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada reissued an "outperform" rating and issued a $212.00 target price on shares of Owens Corning in a research note on Monday. StockNews.com lowered Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, UBS Group dropped their price target on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of "Moderate Buy" and an average target price of $204.18.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company's 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 completion of the sale, the insider now directly owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is owned by corporate insiders.

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.