Swedbank AB Trims Position in Owens Corning (NYSE:OC)

Swedbank AB reduced its position in shares of Owens Corning (NYSE:OC - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 318,841 shares of the construction company's stock after selling 14,605 shares during the period. Swedbank AB owned about 0.37% of Owens Corning worth $54,305,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of OC. Global Trust Asset Management LLC purchased a new position in shares of Owens Corning in the 4th quarter valued at about $31,000. Brooklyn Investment Group acquired a new stake in Owens Corning during the third quarter worth approximately $38,000. Quarry LP boosted its holdings in shares of Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company's stock valued at $40,000 after buying an additional 144 shares in the last quarter. Tobam grew its position in shares of Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company's stock valued at $47,000 after buying an additional 73 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in Owens Corning by 88.1% in the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company's stock valued at $65,000 after acquiring an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Price Performance

Shares of OC traded up $2.77 during trading hours on Thursday, reaching $190.00. The company had a trading volume of 155,169 shares, compared to its average volume of 655,132. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12-month low of $138.70 and a 12-month high of $214.53. The firm has a 50 day simple moving average of $185.09 and a 200-day simple moving average of $178.40. The company has a market capitalization of $16.30 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 2.05 and a beta of 1.46.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.05 by $0.33. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company's revenue for the quarter was up 22.9% on a year-over-year basis. During the same period last year, the firm earned $4.15 EPS. Research analysts expect that Owens Corning will post 15.47 earnings per share for the current year.

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, January 6th were given a $0.69 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from Owens Corning's previous quarterly dividend of $0.60. Owens Corning's dividend payout ratio (DPR) is currently 23.49%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OC. StockNews.com upgraded Owens Corning from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. UBS Group raised their target price 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. The Goldman Sachs Group increased their price target on shares of Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Barclays upgraded shares of Owens Corning from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Finally, Loop Capital lowered their price target on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $201.75.

Insider Transactions at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the company'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 value of $3,336,265.50. Following the sale, the insider now owns 18,866 shares of the company's stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.89% of the company's stock.

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.