LSV Asset Management Sells 202,308 Shares of Owens Corning (NYSE:OC)

LSV Asset Management decreased its position in Owens Corning (NYSE:OC - Free Report) by 8.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,069,842 shares of the construction company's stock after selling 202,308 shares during the quarter. LSV Asset Management owned approximately 2.39% of Owens Corning worth $345,250,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. raised its stake in shares of Owens Corning by 6,116.6% in the fourth quarter. Pacer Advisors Inc. now owns 832,594 shares of the construction company's stock worth $123,415,000 after buying an additional 819,201 shares during the period. Norges Bank bought a new stake in Owens Corning during the 4th quarter valued at $118,251,000. Nordea Investment Management AB raised its position in shares of Owens Corning by 74.4% in the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company's stock worth $210,040,000 after acquiring an additional 533,910 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Owens Corning by 9,571.1% in the 4th quarter. Bank of Nova Scotia now owns 143,616 shares of the construction company's stock worth $21,287,000 after acquiring an additional 142,131 shares in the last quarter. Finally, Cincinnati Insurance Co. acquired a new position in Owens Corning during the 1st quarter valued at about $21,684,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Owens Corning

In other news, CFO Todd W. Fister sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now directly owns 31,626 shares in the company, valued at $5,491,854.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Todd W. Fister sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total transaction of $520,950.00. Following the transaction, the chief financial officer now directly owns 31,626 shares in the company, valued at $5,491,854.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Monaco Nicolas Del sold 3,423 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $176.47, for a total transaction of $604,056.81. Following the completion of the transaction, the insider now owns 11,381 shares in the company, valued at $2,008,405.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,360 shares of company stock worth $3,437,315. Corporate insiders own 0.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Royal Bank of Canada upped their target price on Owens Corning from $192.00 to $201.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 21st. Citigroup raised Owens Corning from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $178.00 to $191.00 in a research note on Thursday. Argus boosted their target price on Owens Corning from $175.00 to $182.00 and gave the stock a "buy" rating in a research note on Thursday, April 25th. Loop Capital lifted their price target on Owens Corning from $188.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, June 21st. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $187.00 price objective on shares of Owens Corning in a research note on Monday, June 17th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $180.50.

Owens Corning Price Performance

NYSE OC traded up $2.32 on Friday, reaching $177.47. The company's stock had a trading volume of 586,680 shares, compared to its average volume of 658,886. The firm has a market cap of $15.38 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 4.98 and a beta of 1.42. Owens Corning has a 52 week low of $109.95 and a 52 week high of $184.00. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $175.51 and a 200 day moving average price of $162.76.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating analysts' consensus estimates of $3.04 by $0.55. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. Owens Corning had a net margin of 11.53% and a return on equity of 26.52%. The company's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.77 earnings per share. Sell-side analysts expect that Owens Corning will post 15.48 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 15th will be given a $0.60 dividend. The ex-dividend date is Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a yield of 1.35%. Owens Corning's dividend payout ratio (DPR) is presently 19.43%.

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.

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