TT International Asset Management LTD Cuts Holdings in Owens Corning (NYSE:OC)

TT International Asset Management LTD lessened its holdings in Owens Corning (NYSE:OC - Free Report) by 48.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,039 shares of the construction company's stock after selling 5,565 shares during the period. TT International Asset Management LTD's holdings in Owens Corning were worth $1,028,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of OC. Point72 Asset Management L.P. boosted its position in shares of Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company's stock worth $128,772,000 after acquiring an additional 464,981 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Owens Corning by 38.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company's stock valued at $276,655,000 after purchasing an additional 446,073 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Owens Corning by 113.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock valued at $140,818,000 after purchasing an additional 424,786 shares during the last quarter. Goldentree Asset Management LP purchased a new position in shares of Owens Corning during the third quarter valued at about $43,559,000. Finally, Nordea Investment Management AB increased its holdings in shares of Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock worth $366,166,000 after purchasing an additional 238,694 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company's stock.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, 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 link. Corporate insiders own 0.89% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. The Goldman Sachs Group upped their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Citigroup reduced their target price on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Royal Bank of Canada upped their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Loop Capital dropped their price target on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Friday. Finally, Wells Fargo & Company upgraded Owens Corning from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $195.00 to $225.00 in a research report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $201.75.

Owens Corning Trading Up 1.1 %

Shares of OC stock traded up $1.78 on Monday, reaching $169.36. 509,409 shares of the company's stock were exchanged, compared to its average volume of 567,558. The company's fifty day simple moving average is $186.68 and its 200 day simple moving average is $177.16. The stock has a market capitalization of $14.53 billion, a PE ratio of 14.41, a P/E/G ratio of 2.14 and a beta of 1.46. 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 $138.70 and a 52 week high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last issued its 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 firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business's revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm earned $4.15 earnings per share. As a group, analysts forecast that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be paid a $0.69 dividend. This is an increase from Owens Corning's previous quarterly dividend of $0.60. This represents a $2.76 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Monday, January 6th. Owens Corning's dividend payout ratio is currently 23.49%.

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.