JPMorgan Chase & Co. Trims Stock Position in Owens Corning (NYSE:OC)

JPMorgan Chase & Co. decreased its position in Owens Corning (NYSE:OC - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 789,811 shares of the construction company's stock after selling 7,932 shares during the quarter. JPMorgan Chase & Co. owned about 0.92% of Owens Corning worth $134,521,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in OC. FPC Investment Advisory Inc. acquired a new position in Owens Corning in the 4th quarter valued at $28,000. Venturi Wealth Management LLC grew its holdings 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 purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in Owens Corning in the fourth quarter worth $31,000. Wilmington Savings Fund Society FSB raised its stake 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 worth $32,000 after acquiring an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Owens Corning during the fourth quarter worth $34,000. Institutional investors and hedge funds own 88.40% of the company's stock.

Insider Activity at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was 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 $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.82% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

Several research firms have weighed in on OC. Wells Fargo & Company reduced their target price on Owens Corning from $225.00 to $200.00 and set an "overweight" rating on the stock in a report on Tuesday, February 25th. Barclays cut their price objective on Owens Corning from $245.00 to $215.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price objective on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. 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 report on Monday, January 6th. Finally, Benchmark restated a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $202.42.

Owens Corning Stock Down 6.7 %

Shares of OC stock traded down $9.88 on Thursday, reaching $137.31. 1,158,030 shares of the company were exchanged, compared to its average volume of 782,591. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a one year low of $134.18 and a one year high of $214.53. The company has a 50-day moving average of $161.14 and a 200-day moving average of $175.64. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings data 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 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 business's revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.21 earnings per share. Analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.01%. Owens Corning's dividend payout ratio is presently 37.70%.

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.