BI Asset Management Fondsmaeglerselskab A S Trims Stake in Owens Corning (NYSE:OC)

BI Asset Management Fondsmaeglerselskab A S cut its holdings in Owens Corning (NYSE:OC - Free Report) by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,917 shares of the construction company's stock after selling 3,600 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.08% of Owens Corning worth $12,079,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Truist Financial Corp boosted its position in shares of Owens Corning by 4.0% during the fourth quarter. Truist Financial Corp now owns 16,038 shares of the construction company's stock valued at $2,732,000 after buying an additional 624 shares during the last quarter. Allstate Corp purchased a new stake in shares of Owens Corning during the 4th quarter valued at about $425,000. Integrated Quantitative Investments LLC purchased a new stake in shares of Owens Corning during the 4th quarter valued at about $349,000. Principal Financial Group Inc. grew its stake in shares of Owens Corning by 88.9% in the fourth quarter. Principal Financial Group Inc. now owns 392,031 shares of the construction company's stock worth $66,777,000 after acquiring an additional 184,552 shares during the period. Finally, Empower Advisory Group LLC raised its holdings in shares of Owens Corning by 1.0% during the fourth quarter. Empower Advisory Group LLC now owns 512,049 shares of the construction company's stock valued at $87,212,000 after purchasing an additional 5,167 shares during the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OC. Loop Capital cut their target price on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Wells Fargo & Company reduced their price objective on Owens Corning from $200.00 to $155.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. StockNews.com downgraded Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Barclays lowered their price objective on shares of Owens Corning from $215.00 to $179.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group cut 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 report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $194.58.

Owens Corning Price Performance

Shares of OC stock traded up $0.95 during mid-day trading on Wednesday, hitting $138.05. The company had a trading volume of 705,319 shares, compared to its average volume of 808,811. The company has a market capitalization of $11.81 billion, a P/E ratio of 11.75, a P/E/G ratio of 1.88 and a beta of 1.39. Owens Corning has a 52-week low of $123.41 and a 52-week high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The stock's 50 day moving average price is $145.94 and its 200-day moving average price is $171.49.

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, beating analysts' consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.21 earnings per share. Equities research analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 2.00%. The ex-dividend date was Monday, March 10th. Owens Corning's payout ratio is 37.70%.

Owens Corning Company 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.