Swiss National Bank Cuts Stake in Owens Corning (NYSE:OC)

Swiss National Bank lessened its stake in Owens Corning (NYSE:OC - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 245,700 shares of the construction company's stock after selling 11,900 shares during the period. Swiss National Bank owned approximately 0.29% of Owens Corning worth $41,848,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Stratos Wealth Partners LTD. increased its stake in Owens Corning by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock worth $221,000 after buying an additional 53 shares in the last quarter. Greenleaf Trust increased its stake in Owens Corning by 1.5% in the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company's stock worth $663,000 after buying an additional 56 shares in the last quarter. Retirement Guys Formula LLC increased its stake in Owens Corning by 3.1% in the 4th quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company's stock worth $341,000 after buying an additional 60 shares in the last quarter. IFP Advisors Inc increased its stake in 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 buying an additional 62 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after buying an additional 63 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

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Owens Corning Trading Down 0.1 %

Shares of Owens Corning stock traded down $0.15 on Thursday, hitting $147.22. 1,104,523 shares of the company traded hands, compared to its average volume of 737,726. The stock's 50 day moving average price is $168.49 and its 200-day moving average price is $176.90. 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 52 week low of $137.50 and a 52 week high of $214.53. The company has a market cap of $12.59 billion, a PE ratio of 12.53, a PEG ratio of 1.88 and a beta of 1.52.

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

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, March 10th. Owens Corning's payout ratio is 37.70%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OC. Wells Fargo & Company cut their price target on Owens Corning from $225.00 to $200.00 and set an "overweight" rating for the company in a research note on Tuesday, February 25th. Royal Bank of Canada restated an "outperform" rating and set a $212.00 price objective on shares of Owens Corning in a research report on Monday. UBS Group cut their price objective on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Barclays cut their price objective on Owens Corning from $245.00 to $215.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Finally, StockNews.com lowered Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Owens Corning currently has a consensus rating of "Moderate Buy" and a consensus price target of $204.18.

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.