Mediolanum International Funds Ltd Sells 19,221 Shares of Owens Corning (NYSE:OC)

Mediolanum International Funds Ltd decreased its holdings in Owens Corning (NYSE:OC - Free Report) by 45.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,449 shares of the construction company's stock after selling 19,221 shares during the period. Mediolanum International Funds Ltd's holdings in Owens Corning were worth $3,967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpha DNA Investment Management LLC grew its holdings in Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company's stock worth $754,000 after acquiring an additional 2,544 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Owens Corning by 3.1% in the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company's stock valued at $1,189,000 after buying an additional 200 shares during the period. Penserra Capital Management LLC grew its holdings in Owens Corning by 53.3% in the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company's stock worth $832,000 after purchasing an additional 1,643 shares during the period. Atria Investments Inc raised its stake in Owens Corning by 93.3% during the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company's stock worth $2,330,000 after buying an additional 6,373 shares during the period. Finally, CWA Asset Management Group LLC bought a new stake in Owens Corning during the 3rd quarter valued at $1,046,000. Institutional investors own 88.40% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group boosted their target price on Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Barclays raised Owens Corning from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. The Goldman Sachs Group raised their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Loop Capital decreased their price target on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Finally, StockNews.com upgraded shares of Owens Corning from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $201.75.

Insiders Place Their Bets

In related news, insider Gunner Smith sold 17,450 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares of the company's stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by insiders.

Owens Corning Stock Performance

Shares of OC stock traded up $1.38 during mid-day trading on Wednesday, reaching $182.10. 554,335 shares of the company's stock traded hands, compared to its average volume of 682,041. The firm has a 50 day moving average price of $182.97 and a two-hundred day moving average price of $178.69. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53. The firm has a market capitalization of $15.62 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating analysts' consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business's quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.15 earnings per share. On average, research analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were given a $0.69 dividend. The ex-dividend date of this dividend was Monday, January 6th. This is an increase from Owens Corning's previous quarterly dividend of $0.60. This represents a $2.76 dividend on an annualized basis and a yield of 1.52%. Owens Corning's dividend payout ratio (DPR) is currently 23.49%.

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.