UniSuper Management Pty Ltd Lowers Position in Owens Corning (NYSE:OC)

UniSuper Management Pty Ltd lowered its stake in shares of Owens Corning (NYSE:OC) by 28.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,700 shares of the construction company’s stock after selling 680 shares during the period. UniSuper Management Pty Ltd’s holdings in Owens Corning were worth $290,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Stratos Wealth Partners LTD. raised its position in shares of Owens Corning by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock worth $221,000 after buying an additional 53 shares during the period. Greenleaf Trust raised its holdings in Owens Corning by 1.5% in the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after buying an additional 56 shares during the period. Retirement Guys Formula LLC lifted its position in Owens Corning by 3.1% during the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock valued at $341,000 after buying an additional 60 shares in the last quarter. IFP Advisors Inc grew its stake in Owens Corning by 35.6% during the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock worth $40,000 after buying an additional 62 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Owens Corning by 2.5% in the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock worth $439,000 after acquiring an additional 62 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Trading Up 0.1 %

NYSE OC opened at $142.81 on Tuesday. The company has a market capitalization of $12.22 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53. The company’s fifty day moving average price is $163.83 and its two-hundred day moving average price is $176.26.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.21 earnings per share. As a group, research analysts predict that Owens Corning will post 15.49 earnings per share 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. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio is currently 37.70%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays lowered 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. Royal Bank of Canada reissued an “outperform” rating and set a $212.00 price target on shares of Owens Corning in a research report on Monday, March 17th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Finally, Citigroup reduced their target price 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. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.18.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s 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 transaction, the insider now owns 11,635 shares of the company’s stock, valued at $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 available at this link. 0.82% of the stock is currently owned by company insiders.

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.