Owens Corning (NYSE:OC) Shares Sold by Guinness Asset Management LTD

Guinness Asset Management LTD lowered its holdings in Owens Corning (NYSE:OC - Free Report) by 27.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,242 shares of the construction company's stock after selling 42,359 shares during the quarter. Guinness Asset Management LTD owned approximately 0.13% of Owens Corning worth $19,115,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of OC. State Street Corp grew its stake in Owens Corning by 4.7% in the third quarter. State Street Corp now owns 4,181,421 shares of the construction company's stock valued at $738,104,000 after purchasing an additional 187,001 shares during the last quarter. Nordea Investment Management AB grew its stake in 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 purchasing an additional 238,694 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Owens Corning by 16.4% in the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company's stock worth $327,286,000 after buying an additional 261,564 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Owens Corning by 31.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company's stock worth $145,455,000 after acquiring an additional 197,667 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Owens Corning by 113.9% during the 3rd 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. Hedge funds and other institutional investors own 88.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. StockNews.com upgraded Owens Corning from a "hold" rating to a "buy" rating in a research note on Saturday, November 9th. Loop Capital cut their price target 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. The Goldman Sachs Group increased their target price on Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Barclays raised shares of Owens Corning from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Finally, Evercore ISI raised their target price on Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $201.75.

Owens Corning Stock Up 2.0 %

Shares of OC traded up $3.58 during mid-day trading on Monday, hitting $182.86. 593,721 shares of the company's stock were exchanged, compared to its average volume of 823,285. 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 company has a market cap of $15.69 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.84 and a beta of 1.46. The stock's 50-day moving average is $186.08 and its 200-day moving average is $177.42. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $3.05 billion during the quarter, compared to analysts' expectations of $3.04 billion. During the same period in the previous year, the firm posted $4.15 EPS. Owens Corning's revenue for the quarter was up 22.9% on a year-over-year basis. On average, sell-side analysts anticipate that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, January 6th were given a dividend of $0.69 per share. This is a boost from Owens Corning's previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Monday, January 6th. Owens Corning's payout ratio is 23.49%.

Insider Buying and Selling

In related news, insider Gunner Smith sold 17,450 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider now owns 18,866 shares in the company, valued at $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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.