Thrivent Financial for Lutherans Sells 142,315 Shares of Owens Corning (NYSE:OC)

Thrivent Financial for Lutherans lowered its stake in Owens Corning (NYSE:OC) by 61.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,037 shares of the construction company’s stock after selling 142,315 shares during the period. Thrivent Financial for Lutherans owned 0.10% of Owens Corning worth $15,626,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of OC. Natixis Advisors LLC lifted its stake in shares of Owens Corning by 1.9% during the third quarter. Natixis Advisors LLC now owns 17,903 shares of the construction company’s stock valued at $3,160,000 after acquiring an additional 339 shares during the period. Caprock Group LLC raised its holdings in Owens Corning by 14.6% during the 3rd quarter. Caprock Group LLC now owns 5,548 shares of the construction company’s stock worth $979,000 after purchasing an additional 708 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Owens Corning during the 3rd quarter valued at about $607,000. Commerce Bank boosted its stake in shares of Owens Corning by 13.8% in the 3rd quarter. Commerce Bank now owns 3,300 shares of the construction company’s stock valued at $583,000 after purchasing an additional 399 shares during the last quarter. Finally, Foundry Partners LLC acquired a new stake in shares of Owens Corning during the 3rd quarter worth approximately $611,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning 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 directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Barclays decreased their price objective 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. JPMorgan Chase & Co. cut their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, UBS Group cut their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.18.

Owens Corning Stock Performance

Shares of OC opened at $144.49 on Friday. Owens Corning has a twelve month low of $137.50 and a twelve month 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 firm’s 50 day moving average price is $167.56 and its two-hundred day moving average price is $176.53. The firm has a market cap of $12.36 billion, a P/E ratio of 12.30, a PEG ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last announced 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%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.21 EPS. On average, analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

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 given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is currently 37.70%.

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.