B. Metzler seel. Sohn & Co. AG Sells 139 Shares of Owens Corning (NYSE:OC)

B. Metzler seel. Sohn & Co. AG lowered its stake in shares of Owens Corning (NYSE:OC) by 4.0% in the fourth quarter, Holdings Channel reports. The firm owned 3,302 shares of the construction company’s stock after selling 139 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Owens Corning were worth $562,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Owens Corning during the 4th quarter worth $208,519,000. JPMorgan Chase & Co. boosted its holdings in Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after acquiring an additional 424,786 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Owens Corning in the fourth quarter valued at about $51,220,000. Nordea Investment Management AB increased its stake in shares of Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after purchasing an additional 238,694 shares during the period. Finally, LGT Group Foundation acquired a new position in shares of Owens Corning during the 4th quarter worth about $39,054,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Down 2.3 %

Shares of OC opened at $134.17 on Friday. The company has a market capitalization of $11.48 billion, a P/E ratio of 11.42, a PEG ratio of 1.88 and a beta of 1.39. Owens Corning has a one year low of $126.15 and a one year high of $214.53. The business’s 50 day simple moving average is $160.07 and its 200-day simple moving average is $175.41. 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 (NYSE:OC) last announced its 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 company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.21 earnings per share. As a group, sell-side analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 2.06%. Owens Corning’s dividend payout ratio (DPR) is currently 37.70%.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was 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 in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OC. Wells Fargo & Company cut their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Owens Corning in a report on Tuesday. They set a “buy” rating and a $183.00 price objective on the stock. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Finally, Loop Capital lowered their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and an average target price of $202.42.

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.