Owens Corning (NYSE:OC) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Owens Corning (NYSE:OC - Free Report) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 156,175 shares of the construction company's stock after selling 8,211 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.18% of Owens Corning worth $26,600,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning during the 4th quarter worth about $28,000. Venturi Wealth Management LLC boosted its holdings in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after purchasing an additional 63 shares in the last quarter. Global Trust Asset Management LLC purchased a new position in 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 valued at $32,000 after buying an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in shares of Owens Corning during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 88.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OC shares. Barclays dropped their price target on Owens Corning from $245.00 to $215.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Benchmark restated a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. StockNews.com downgraded shares of Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Wells Fargo & Company lowered their price objective on shares of Owens Corning from $225.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Finally, UBS Group decreased their target price on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Owens Corning presently has an average rating of "Moderate Buy" and a consensus price target of $204.18.

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Owens Corning Stock Performance

Shares of OC traded up $0.18 during midday trading on Monday, hitting $142.81. 1,101,850 shares of the stock traded hands, compared to its average volume of 781,012. 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 1-year low of $137.50 and a 1-year high of $214.53. The business's 50 day moving average price is $163.83 and its two-hundred day moving average price is $176.26. The firm has a market capitalization of $12.22 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the company posted $3.21 EPS. The business's revenue for the quarter was up 23.3% compared to the same quarter last year. Equities research analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.93%. Owens Corning's dividend payout ratio is presently 37.70%.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value 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 approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is owned by insiders.

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.