Louisiana State Employees Retirement System Sells 300 Shares of Owens Corning (NYSE:OC)

Louisiana State Employees Retirement System trimmed its holdings in shares of Owens Corning (NYSE:OC) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,800 shares of the construction company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Owens Corning were worth $4,054,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OC. Alpha DNA Investment Management LLC boosted its stake in shares of Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after acquiring an additional 2,544 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Owens Corning by 3.1% in the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock worth $1,189,000 after purchasing an additional 200 shares during the period. Penserra Capital Management LLC lifted its position in Owens Corning by 53.3% during the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after purchasing an additional 1,643 shares in the last quarter. Atria Investments Inc grew its holdings in 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 purchasing an additional 6,373 shares during the period. Finally, CWA Asset Management Group LLC purchased a new stake in Owens Corning in the third quarter worth about $1,046,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OC has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $192.00 to $245.00 in a research note on Wednesday, December 11th. UBS Group upped their price target on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Citigroup decreased their price objective 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. Finally, Loop Capital dropped their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and an average target price of $201.75.

Insiders Place Their Bets

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated 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 transaction, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of Owens Corning 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 disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Stock Down 1.2 %

OC opened at $176.12 on Thursday. 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 $15.11 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53. The firm has a 50-day simple moving average of $180.55 and a two-hundred day simple moving average of $178.77.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.57%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio is presently 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.