Owens Corning (NYSE:OC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in shares of Owens Corning (NYSE:OC - Free Report) by 8.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 477,448 shares of the construction company's stock after selling 45,553 shares during the period. Victory Capital Management Inc. owned about 0.56% of Owens Corning worth $81,319,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OC. Stratos Wealth Partners LTD. lifted its position in shares of Owens Corning by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock valued at $221,000 after buying an additional 53 shares during the last quarter. Greenleaf Trust lifted its position in Owens Corning by 1.5% during the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company's stock valued at $663,000 after acquiring an additional 56 shares during the last quarter. Retirement Guys Formula LLC lifted its position in Owens Corning by 3.1% during the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company's stock valued at $341,000 after acquiring an additional 60 shares during the last quarter. IFP Advisors Inc boosted its stake in Owens Corning by 35.6% in the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock valued at $40,000 after acquiring an additional 62 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Owens Corning by 55.8% in the fourth 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 last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Owens Corning Stock Performance

Shares of Owens Corning stock traded down $3.98 during trading on Monday, hitting $139.91. 1,741,278 shares of the company's stock were exchanged, compared to its average volume of 923,539. Owens Corning has a 52-week low of $137.50 and a 52-week high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.88 and a beta of 1.52. The business has a 50-day simple moving average of $172.91 and a 200-day simple moving average of $178.38.

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

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.97%. Owens Corning's dividend payout ratio is presently 37.70%.

Analysts Set New Price Targets

Several brokerages have recently commented on OC. UBS Group decreased their price objective on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Barclays lowered their price target on Owens Corning from $245.00 to $215.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Benchmark restated a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Loop Capital decreased their price objective 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. Finally, Wells Fargo & Company dropped their target price on shares of Owens Corning from $225.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Five equities 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.

Insider Transactions at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the company's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company's stock.

Owens Corning Company 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.