Asset Management One Co. Ltd. Decreases Holdings in Owens Corning (NYSE:OC)

Asset Management One Co. Ltd. cut its position in Owens Corning (NYSE:OC - Free Report) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,899 shares of the construction company's stock after selling 4,578 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Owens Corning were worth $5,441,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Owens Corning by 4.7% in the third 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 during 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 buying an additional 238,694 shares during the period. Pacer Advisors Inc. grew its position in shares of Owens Corning by 16.4% in the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company's stock valued at $327,286,000 after buying an additional 261,564 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Owens Corning by 31.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company's stock valued at $145,455,000 after buying an additional 197,667 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock worth $140,818,000 after acquiring an additional 424,786 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now directly owns 18,866 shares of the company's stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the 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 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 trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on OC shares. Wells Fargo & Company raised shares of Owens Corning from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $195.00 to $225.00 in a research report on Tuesday, December 17th. UBS Group increased their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a "hold" rating to a "buy" rating in a report on Saturday, November 9th. Evercore ISI upped their price target on shares of Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th. Finally, Barclays raised Owens Corning from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Owens Corning has a consensus rating of "Moderate Buy" and an average target price of $206.91.

Owens Corning Stock Down 1.3 %

Shares of OC traded down $2.20 during trading hours on Thursday, hitting $171.93. The stock had a trading volume of 718,307 shares, compared to its average volume of 694,464. Owens Corning has a 1-year low of $142.12 and a 1-year high of $214.53. The firm has a market capitalization of $14.75 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 1.94 and a beta of 1.46. The firm has a 50 day simple moving average of $177.95 and a 200-day simple moving average of $178.62. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Monday, March 10th. Owens Corning's payout ratio is 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.