Cozad Asset Management Inc. Sells 2,557 Shares of Owens Corning (NYSE:OC)

Cozad Asset Management Inc. trimmed its holdings in Owens Corning (NYSE:OC) by 4.1% in the 4th quarter, Holdings Channel reports. The fund owned 60,520 shares of the construction company’s stock after selling 2,557 shares during the quarter. Owens Corning comprises 1.0% of Cozad Asset Management Inc.’s portfolio, making the stock its 27th biggest holding. Cozad Asset Management Inc.’s holdings in Owens Corning were worth $10,308,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning in the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC boosted its position in shares of Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after acquiring an additional 63 shares during the period. Global Trust Asset Management LLC bought a new stake in shares of Owens Corning in the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB boosted its position 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 valued at $32,000 after acquiring an additional 122 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in shares of Owens Corning in the fourth quarter valued at approximately $34,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Performance

Owens Corning stock opened at $144.09 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The stock has a fifty day moving average price of $169.96 and a two-hundred day moving average price of $177.43. Owens Corning has a 52-week low of $137.50 and a 52-week high of $214.53. The firm has a market capitalization of $12.33 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the company posted $3.21 earnings per share. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm 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 dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Monday, March 10th. Owens Corning’s payout ratio is presently 37.70%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Wells Fargo & Company cut their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Citigroup cut their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Barclays cut their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $204.18.

Insider Transactions at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.89% of the company’s stock.

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.