Owens Corning (NYSE:OC) Position Cut by Sei Investments Co.

Sei Investments Co. reduced its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,270 shares of the construction company's stock after selling 5,789 shares during the quarter. Sei Investments Co. owned 0.07% of Owens Corning worth $10,262,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Stratos Wealth Partners LTD. boosted its position in Owens Corning by 4.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock worth $221,000 after purchasing an additional 53 shares during the period. Greenleaf Trust boosted its position in shares of Owens Corning by 1.5% in the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company's stock worth $663,000 after buying an additional 56 shares during the period. Retirement Guys Formula LLC grew its stake in shares of Owens Corning by 3.1% in the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company's stock valued at $341,000 after buying an additional 60 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Owens Corning by 35.6% in the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock valued at $40,000 after buying an additional 62 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Owens Corning by 2.5% during the 4th quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company's stock valued at $439,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 88.40% of the company's stock.

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Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the 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 sale, the insider now owns 11,635 shares of the company's stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.82% of the company's stock.

Owens Corning Stock Performance

Shares of OC stock traded down $9.88 on Thursday, hitting $137.31. 1,158,030 shares of the stock traded hands, compared to its average volume of 782,591. The company's fifty day moving average is $161.14 and its 200 day moving average is $175.64. Owens Corning has a 1-year low of $134.08 and a 1-year high of $214.53. The company has a market capitalization of $11.75 billion, a PE ratio of 11.69, a PEG ratio of 1.88 and a beta of 1.52. 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 (NYSE:OC - Get Free Report) last released its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the firm earned $3.21 earnings per share. The firm's revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities research analysts predict that Owens Corning will post 15.49 earnings per share 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. Shareholders of record on Monday, March 10th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 2.01%. Owens Corning's payout ratio is currently 37.70%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Owens Corning from $225.00 to $200.00 and set an "overweight" rating for the company in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Owens Corning in a report on Tuesday. They set a "buy" rating and a $183.00 price target for the company. UBS Group cut their price objective on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Loop Capital lowered their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Finally, Citigroup cut their price target on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $202.42.

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.