Guggenheim Capital LLC Sells 11,837 Shares of Owens Corning (NYSE:OC)

Guggenheim Capital LLC lowered its stake in shares of Owens Corning (NYSE:OC - Free Report) by 60.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,885 shares of the construction company's stock after selling 11,837 shares during the quarter. Guggenheim Capital LLC's holdings in Owens Corning were worth $1,343,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of Owens Corning by 23.3% in the 3rd quarter. Barclays PLC now owns 125,756 shares of the construction company's stock valued at $22,197,000 after buying an additional 23,787 shares in the last quarter. World Investment Advisors LLC bought a new position in Owens Corning in the third quarter valued at approximately $23,002,000. Synovus Financial Corp acquired a new position in Owens Corning during the third quarter valued at approximately $337,000. Franklin Resources Inc. lifted its stake in Owens Corning by 5.3% during the third quarter. Franklin Resources Inc. now owns 444,748 shares of the construction company's stock worth $83,381,000 after purchasing an additional 22,500 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in shares of Owens Corning by 3.1% in the 3rd quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company's stock valued at $34,717,000 after purchasing an additional 5,916 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citigroup lowered their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a report on Monday, January 6th. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Royal Bank of Canada reduced their price target on shares of Owens Corning from $212.00 to $199.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Barclays lowered their price objective on shares of Owens Corning from $215.00 to $179.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group decreased their target price on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $194.58.

Insider Buying and Selling at Owens Corning

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 completion of the sale, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.82% of the company's stock.

Owens Corning Trading Down 0.0 %

Shares of NYSE OC traded down $0.01 during trading on Friday, reaching $143.95. The company had a trading volume of 871,331 shares, compared to its average volume of 807,348. The stock has a market cap of $12.31 billion, a P/E ratio of 12.25, a PEG ratio of 1.88 and a beta of 1.39. The company's fifty day moving average price is $145.23 and its 200-day moving average price is $171.23. 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 12 month low of $123.41 and a 12 month high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.88 billion. During the same period in the prior year, the business posted $3.21 earnings per share. The firm's revenue was up 23.3% on a year-over-year basis. As a group, research analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Monday, March 10th. Owens Corning's dividend payout ratio is presently 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.