Schroder Investment Management Group Has $135.59 Million Stock Holdings in Owens Corning (NYSE:OC)

Schroder Investment Management Group lowered its stake in Owens Corning (NYSE:OC) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 799,542 shares of the construction company’s stock after selling 79,372 shares during the quarter. Schroder Investment Management Group’s holdings in Owens Corning were worth $135,594,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in Owens Corning in the fourth quarter valued at about $28,000. Venturi Wealth Management LLC raised its position in shares of Owens Corning by 55.8% in the 4th 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 position in Owens Corning during the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB grew its holdings in Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after purchasing an additional 122 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in Owens Corning in the fourth quarter valued at approximately $34,000. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Down 3.1 %

Owens Corning stock opened at $142.64 on Monday. The company has a fifty day simple moving average of $164.63 and a 200 day simple moving average of $176.39. The company has a current ratio of 1.44, a quick ratio of 0.85 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 company has a market cap of $12.20 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52.

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

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.93%. Owens Corning’s dividend payout ratio is presently 37.70%.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OC. JPMorgan Chase & Co. decreased their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Citigroup lowered their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $212.00 price objective on shares of Owens Corning in a report on Monday, March 17th. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, UBS Group dropped their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

About Owens Corning

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.