Tredje AP fonden Decreases Stock Position in Owens Corning (NYSE:OC)

Tredje AP fonden lessened its stake in Owens Corning (NYSE:OC - Free Report) by 50.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,985 shares of the construction company's stock after selling 12,984 shares during the quarter. Tredje AP fonden's holdings in Owens Corning were worth $2,212,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Atria Investments Inc increased its position in shares of Owens Corning by 93.3% during the third quarter. Atria Investments Inc now owns 13,200 shares of the construction company's stock valued at $2,330,000 after acquiring an additional 6,373 shares during the last quarter. Prime Capital Investment Advisors LLC increased its position in shares of Owens Corning by 7.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,784 shares of the construction company's stock valued at $315,000 after acquiring an additional 116 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Owens Corning by 54.1% during the third quarter. Victory Capital Management Inc. now owns 523,001 shares of the construction company's stock valued at $92,320,000 after acquiring an additional 183,666 shares during the last quarter. Freemont Management S.A. purchased a new stake in shares of Owens Corning during the third quarter valued at approximately $1,589,000. Finally, Sycomore Asset Management increased its position in shares of Owens Corning by 7.8% during the third quarter. Sycomore Asset Management now owns 20,947 shares of the construction company's stock valued at $3,645,000 after acquiring an additional 1,517 shares during the last quarter. Institutional investors own 88.40% of the company's stock.

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Owens Corning Price Performance

NYSE:OC traded down $0.18 during trading hours on Tuesday, hitting $144.89. 858,239 shares of the company's stock traded hands, compared to its average volume of 735,052. The firm has a market cap of $12.39 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a 52 week low of $137.50 and a 52 week high of $214.53. The business's fifty day simple moving average is $169.45 and its two-hundred day simple moving average is $177.28. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm's quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the company earned $3.21 earnings per share. On average, research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

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 paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning's dividend 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 dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares of the company's stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Royal Bank of Canada reissued an "outperform" rating and issued a $212.00 target price on shares of Owens Corning in a research report on Monday. Benchmark reissued a "hold" rating on shares of Owens Corning in a research report on Monday, March 3rd. StockNews.com downgraded Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, UBS Group decreased their target price 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. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Owens Corning presently has an average rating of "Moderate Buy" and an average target price 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.