LSV Asset Management Lowers Stock Holdings in Owens Corning (NYSE:OC)

LSV Asset Management lessened its position in shares of Owens Corning (NYSE:OC) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,448,882 shares of the construction company’s stock after selling 38,389 shares during the period. LSV Asset Management’s holdings in Owens Corning were worth $246,774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in shares of Owens Corning in the fourth quarter worth about $28,000. Venturi Wealth Management LLC raised its stake in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after buying an additional 63 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in shares of Owens Corning during the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB raised its position in shares of Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after purchasing an additional 122 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Owens Corning during the 4th quarter worth approximately $34,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on OC. Barclays lowered their target price on Owens Corning from $215.00 to $179.00 and set an “overweight” rating on the stock in a research report on Tuesday. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft started coverage on Owens Corning in a research report on Tuesday, April 1st. They issued a “buy” rating and a $183.00 target price for the company. Finally, UBS Group cut their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.42.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Owens Corning Stock Up 12.0 %

OC stock opened at $141.51 on Thursday. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53. The company has a market cap of $12.10 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. The business’s 50-day simple moving average is $154.47 and its 200 day simple moving average is $173.98. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

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

Owens Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is currently 37.70%.

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.