Owens Corning (NYSE:OC) Position Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in Owens Corning (NYSE:OC - Free Report) by 61.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 89,037 shares of the construction company's stock after selling 142,315 shares during the period. Thrivent Financial for Lutherans owned about 0.10% of Owens Corning worth $15,626,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of OC. FPC Investment Advisory Inc. purchased a new position in shares of Owens Corning in the 4th quarter worth $28,000. Venturi Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 63 shares during the period. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning in the 4th quarter valued at about $31,000. Wilmington Savings Fund Society FSB grew its holdings in shares of Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after purchasing an additional 122 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in Owens Corning during the 4th quarter worth approximately $34,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. Loop Capital decreased their price target on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, January 10th. 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. UBS Group reduced their price objective on Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $212.00 target price on shares of Owens Corning in a research note on Monday, March 17th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Owens Corning has a consensus rating of "Moderate Buy" and an average price target of $204.18.

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Insiders Place Their Bets

In other news, insider Monaco Nicolas Del sold 1,750 shares of the firm's 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 transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.89% of the stock is currently owned by corporate insiders.

Owens Corning Stock Down 1.0 %

Shares of NYSE:OC traded down $1.57 during midday trading on Tuesday, reaching $149.61. The company had a trading volume of 884,567 shares, compared to its average volume of 744,951. The stock has a market capitalization of $12.80 billion, a P/E ratio of 12.73, a PEG ratio of 1.88 and a beta of 1.52. The stock's fifty day moving average price is $166.70 and its 200-day moving average price is $176.65. 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 has a one year low of $137.50 and a one year high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. The business 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%. The company's revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.21 EPS. Equities research analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning's dividend payout ratio is currently 37.70%.

About Owens Corning

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.