Vinva Investment Management Ltd Decreases Position in Owens Corning (NYSE:OC)

Vinva Investment Management Ltd lessened its stake in shares of Owens Corning (NYSE:OC - Free Report) by 70.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,611 shares of the construction company's stock after selling 3,828 shares during the quarter. Vinva Investment Management Ltd's holdings in Owens Corning were worth $273,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new position in Owens Corning during the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC lifted its holdings in shares of Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after buying an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new position in shares of Owens Corning in the 4th quarter worth $31,000. Wilmington Savings Fund Society FSB grew its holdings in shares of Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after acquiring an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning during the fourth quarter valued at $34,000. 88.40% of the stock is currently owned by institutional investors.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction 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 sale, the insider now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.89% of the company's stock.

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Owens Corning Price Performance

NYSE OC traded down $1.57 during trading hours on Tuesday, reaching $149.61. The company's stock had a trading volume of 884,567 shares, compared to its average volume of 744,938. 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 has a 1 year low of $137.50 and a 1 year high of $214.53. The firm's 50-day moving average price is $166.70 and its 200-day moving average price is $176.65. The company has a market capitalization of $12.80 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.88 and a beta of 1.52.

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 for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. The firm had revenue of $2.84 billion during 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%. Owens Corning'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 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 disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.84%. Owens Corning's payout ratio is 37.70%.

Analysts Set New Price Targets

Several brokerages have issued reports on OC. UBS Group dropped their target price on Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Barclays lowered their target price on Owens Corning from $245.00 to $215.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Loop Capital reduced 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, January 10th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $212.00 price objective on shares of Owens Corning in a research report on Monday, March 17th. 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 a consensus price target 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.