Owens Corning (NYSE:OC) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC reduced its holdings in Owens Corning (NYSE:OC) by 60.0% during the 4th quarter, Holdings Channel reports. The fund owned 7,885 shares of the construction company’s stock after selling 11,837 shares during the quarter. Guggenheim Capital LLC’s holdings in Owens Corning were worth $1,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. raised its stake in shares of Owens Corning by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after purchasing an additional 53 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of 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 acquiring an additional 56 shares in the last quarter. Retirement Guys Formula LLC raised its holdings 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 worth $341,000 after purchasing an additional 60 shares in the last quarter. IFP Advisors Inc boosted its stake in Owens Corning by 35.6% during the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after purchasing an additional 62 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Owens Corning by 2.5% during the 4th quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock valued at $439,000 after purchasing an additional 62 shares during the period. Institutional investors own 88.40% of the company’s stock.

Insider Activity

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. This 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 insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OC. Barclays decreased their target price on Owens Corning from $215.00 to $179.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lowered their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. UBS Group cut their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Citigroup cut their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Owens Corning in a report on Tuesday, April 1st. They issued a “buy” rating and a $183.00 target price on the stock. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.58.

Owens Corning Stock Performance

Shares of NYSE OC opened at $134.47 on Tuesday. 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 one year low of $123.41 and a one year high of $214.53. The business’s 50-day moving average price is $147.60 and its two-hundred day moving average price is $171.97. The company has a market capitalization of $11.50 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping 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 firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the company posted $3.21 earnings per share. The firm’s revenue was up 23.3% on a year-over-year basis. Analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were given a $0.69 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.05%. Owens Corning’s dividend payout ratio 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.