Owens Corning (NYSE:OC) Stake Lessened by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC trimmed its stake in shares of Owens Corning (NYSE:OC) by 27.7% during the fourth quarter, HoldingsChannel reports. The fund owned 61,090 shares of the construction company’s stock after selling 23,421 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Owens Corning were worth $10,405,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. bought a new position in shares of Owens Corning during the fourth quarter worth about $4,394,000. Wells Fargo & Company MN lifted its holdings in Owens Corning by 153.7% during the 4th quarter. Wells Fargo & Company MN now owns 148,284 shares of the construction company’s stock worth $25,256,000 after buying an additional 89,825 shares during the last quarter. Integrated Quantitative Investments LLC acquired a new position in shares of Owens Corning in the 4th quarter worth approximately $349,000. Prudential PLC increased its holdings in shares of Owens Corning by 122.7% in the 4th quarter. Prudential PLC now owns 2,742 shares of the construction company’s stock valued at $467,000 after acquiring an additional 1,511 shares during the last quarter. Finally, Pitcairn Co. raised its position in shares of Owens Corning by 98.0% during the 4th quarter. Pitcairn Co. now owns 2,830 shares of the construction company’s stock valued at $482,000 after acquiring an additional 1,401 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on OC shares. Loop Capital lowered their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $212.00 target price on shares of Owens Corning in a report on Monday, March 17th. Wells Fargo & Company lowered their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Owens Corning in a report on Tuesday, April 1st. They issued a “buy” rating and a $183.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.42.

Owens Corning Trading Down 2.3 %

NYSE:OC opened at $134.17 on Monday. The stock has a market cap of $11.48 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.88 and a beta of 1.39. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 1 year low of $114.86 and a 1 year high of $214.53. The business has a fifty day moving average of $160.07 and a 200-day moving average of $175.46.

Owens Corning (NYSE:OC) last announced 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. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.21 EPS. Equities analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors 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 dividend on an annualized basis and a dividend yield of 2.06%. Owens Corning’s dividend payout ratio is presently 37.70%.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated 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 directly 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 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 owned by corporate 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.