Mirae Asset Global Investments Co. Ltd. Trims Position in Owens Corning (NYSE:OC)

Mirae Asset Global Investments Co. Ltd. lessened its position in shares of Owens Corning (NYSE:OC - Free Report) by 30.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,635 shares of the construction company's stock after selling 3,830 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Owens Corning were worth $1,465,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in Owens Corning by 4.7% during the 3rd quarter. State Street Corp now owns 4,181,421 shares of the construction company's stock worth $738,104,000 after purchasing an additional 187,001 shares in the last quarter. Nordea Investment Management AB lifted its holdings 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 worth $366,166,000 after purchasing an additional 238,694 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Owens Corning by 16.4% during the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company's stock worth $327,286,000 after purchasing an additional 261,564 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Owens Corning by 31.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company's stock worth $145,455,000 after purchasing an additional 197,667 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Owens Corning by 113.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock worth $140,818,000 after purchasing an additional 424,786 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Price Performance

Shares of NYSE OC traded up $1.40 during trading hours on Friday, reaching $179.44. 775,359 shares of the stock traded hands, compared to its average volume of 695,425. The company has a market capitalization of $15.39 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a 52-week low of $138.70 and a 52-week high of $214.53. The company's 50-day simple moving average is $179.67 and its two-hundred day simple moving average is $178.75.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.54%. Owens Corning's dividend payout ratio is 23.49%.

Insiders Place Their Bets

In other Owens Corning 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 transaction, the insider now directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the transaction, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OC shares. Evercore ISI increased their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. Loop Capital dropped their price target on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Barclays upgraded Owens Corning from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $192.00 to $245.00 in a research report on Wednesday, December 11th. Wells Fargo & Company upgraded Owens Corning from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $195.00 to $225.00 in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada lifted their price target on Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $201.75.

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.