Hsbc Holdings PLC Sells 160,382 Shares of Owens Corning (NYSE:OC)

Hsbc Holdings PLC decreased its stake in Owens Corning (NYSE:OC - Free Report) by 41.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 224,894 shares of the construction company's stock after selling 160,382 shares during the period. Hsbc Holdings PLC owned 0.26% of Owens Corning worth $38,286,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in OC. Nordea Investment Management AB raised 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 acquiring an additional 238,694 shares in the last quarter. Norges Bank purchased a new stake in Owens Corning during the fourth quarter valued at about $208,519,000. JPMorgan Chase & Co. increased its holdings in shares of Owens Corning by 113.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock valued at $140,818,000 after purchasing an additional 424,786 shares during the period. First Trust Advisors LP increased its holdings in shares of Owens Corning by 20.7% in the 4th quarter. First Trust Advisors LP now owns 744,771 shares of the construction company's stock valued at $126,849,000 after purchasing an additional 127,785 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Owens Corning by 2.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 640,506 shares of the construction company's stock valued at $109,091,000 after purchasing an additional 16,958 shares during the period. Institutional investors own 88.40% of the company's stock.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Loop Capital dropped their price objective on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, January 10th. UBS Group reduced their price objective on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Benchmark reissued a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Citigroup decreased their price objective on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $195.73.

Owens Corning Trading Down 0.0 %

OC traded down $0.06 during mid-day trading on Monday, hitting $144.02. The stock had a trading volume of 580,055 shares, compared to its average volume of 807,864. The stock's fifty day simple moving average is $143.95 and its 200-day simple moving average is $170.60. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last posted its 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 net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the business posted $3.21 earnings per share. The business's revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, research analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Monday, March 10th. Owens Corning's dividend payout ratio is 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.