Owens Corning (NYSE:OC) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lessened its stake in Owens Corning (NYSE:OC) by 9.7% in the 4th quarter, Holdings Channel reports. The firm owned 1,307 shares of the construction company’s stock after selling 141 shares during the period. First Horizon Advisors Inc.’s holdings in Owens Corning were worth $223,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Creative Planning grew its position in Owens Corning by 16.4% in the 3rd quarter. Creative Planning now owns 9,789 shares of the construction company’s stock valued at $1,728,000 after acquiring an additional 1,379 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Owens Corning in the third quarter valued at approximately $156,000. Forsta AP Fonden grew its holdings in shares of Owens Corning by 18.6% in the third quarter. Forsta AP Fonden now owns 24,900 shares of the construction company’s stock valued at $4,395,000 after purchasing an additional 3,900 shares in the last quarter. PFG Investments LLC increased its stake in Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after buying an additional 68 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Owens Corning by 3.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,793 shares of the construction company’s stock worth $1,199,000 after buying an additional 211 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Transactions at Owens Corning

In other news, 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 transaction of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on OC shares. UBS Group dropped their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday. Loop Capital reduced their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Evercore ISI boosted their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their target price on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and an average target price of $210.00.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $158.75 on Wednesday. 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 52 week low of $145.50 and a 52 week high of $214.53. The firm’s 50 day moving average is $176.48 and its two-hundred day moving average is $179.01. The firm has a market capitalization of $13.62 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.88 and a beta of 1.46.

Owens Corning (NYSE:OC) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the prior year, the business posted $3.21 EPS. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. Research analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently disclosed 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 dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is 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.