Invesco Ltd. Has $81.15 Million Stock Position in Owens Corning (NYSE:OC)

Invesco Ltd. trimmed its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 56.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 476,425 shares of the construction company's stock after selling 625,543 shares during the period. Invesco Ltd. owned approximately 0.56% of Owens Corning worth $81,145,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in OC. FPC Investment Advisory Inc. acquired a new stake in shares of Owens Corning during the 4th quarter worth about $28,000. Venturi Wealth Management LLC increased its holdings 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 buying an additional 63 shares in the last quarter. Global Trust Asset Management LLC bought a new position in shares of Owens Corning in the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB boosted its holdings in shares of Owens Corning by 193.7% in the 4th 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 bought a new stake in Owens Corning during the 4th quarter worth approximately $34,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Trading Down 1.5 %

OC traded down $2.13 during mid-day trading on Tuesday, hitting $138.10. The stock had a trading volume of 592,787 shares, compared to its average volume of 800,531. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53. The firm has a market capitalization of $11.81 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth 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. The stock's fifty day simple moving average is $150.96 and its 200-day simple moving average is $173.00.

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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 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.21 earnings per share. 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 declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

Insider Transactions at Owens Corning

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 stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

OC has been the topic of a number of recent analyst reports. UBS Group reduced their price objective on Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Royal Bank of Canada dropped their target price on shares of Owens Corning from $212.00 to $199.00 and set an "outperform" rating for the company in a research note on Monday. Benchmark reissued a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Citigroup reduced their price objective on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped their target price on Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $194.58.

Owens Corning 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.