Vanguard Group Inc. Sells 76,681 Shares of Owens Corning (NYSE:OC)

Vanguard Group Inc. cut its stake in Owens Corning (NYSE:OC - Free Report) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,761,830 shares of the construction company's stock after selling 76,681 shares during the quarter. Vanguard Group Inc. owned 10.21% of Owens Corning worth $1,492,315,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its stake in Owens Corning by 4.7% during the 3rd quarter. State Street Corp now owns 4,181,421 shares of the construction company's stock valued at $738,104,000 after buying an additional 187,001 shares during the last quarter. Nordea Investment Management AB grew 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 acquiring an additional 238,694 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in Owens Corning by 31.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company's stock valued at $145,455,000 after acquiring an additional 197,667 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock valued at $140,818,000 after acquiring an additional 424,786 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Owens Corning by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company's stock worth $128,379,000 after purchasing an additional 24,522 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

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Owens Corning Price Performance

NYSE OC traded up $1.21 during trading hours on Tuesday, reaching $144.03. The company's stock had a trading volume of 591,385 shares, compared to its average volume of 781,246. Owens Corning has a 1 year low of $137.50 and a 1 year high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $12.32 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.88 and a beta of 1.52. The firm's 50-day moving average price is $162.96 and its 200-day moving average price is $176.11.

Owens Corning (NYSE:OC - Get Free Report) last released its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company's quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.21 earnings per share. On average, equities research analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.92%. Owens Corning's dividend payout ratio (DPR) is 37.70%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on OC shares. UBS Group lowered their price objective on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Citigroup decreased their price target on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Loop Capital reduced their price objective on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $212.00 target price on shares of Owens Corning in a report on Monday, March 17th. Finally, 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 report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Owens Corning presently has a consensus rating of "Moderate Buy" and a consensus price target of $202.42.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by company insiders.

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.