Schroder Investment Management Group Reduces Position in Owens Corning (NYSE:OC)

Schroder Investment Management Group trimmed its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 799,542 shares of the construction company's stock after selling 79,372 shares during the quarter. Schroder Investment Management Group owned 0.93% of Owens Corning worth $135,594,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. raised 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 last quarter. Greenleaf Trust increased its position in Owens Corning by 1.5% during the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company's stock valued at $663,000 after purchasing an additional 56 shares during the period. Retirement Guys Formula LLC raised its holdings in Owens Corning by 3.1% during the 4th quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company's stock worth $341,000 after purchasing an additional 60 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock worth $40,000 after purchasing an additional 62 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in Owens Corning by 2.5% in the fourth 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. 88.40% of the stock is currently owned by institutional investors and hedge funds.

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Owens Corning Stock Down 3.4 %

NYSE:OC traded down $4.60 during trading hours on Friday, hitting $132.66. 391,863 shares of the company traded hands, compared to its average volume of 781,354. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company has a market cap of $11.35 billion, a PE ratio of 11.32, a PEG ratio of 1.88 and a beta of 1.52. The firm's 50-day simple moving average is $161.14 and its 200-day simple moving average is $175.64. Owens Corning has a one year low of $116.55 and a one year high of $214.53.

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

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 2.08%. Owens Corning's dividend payout ratio is currently 37.70%.

Insider Buying and Selling at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.82% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. StockNews.com lowered Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft started coverage on Owens Corning in a report on Tuesday. They issued a "buy" rating and a $183.00 target price for the company. Wells Fargo & Company cut their price target on Owens Corning from $225.00 to $200.00 and set an "overweight" rating on the stock in a report on Tuesday, February 25th. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Finally, UBS Group dropped 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 report 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.