Foster & Motley Inc. Sells 387 Shares of Owens Corning (NYSE:OC)

Foster & Motley Inc. lessened its stake in shares of Owens Corning (NYSE:OCFree Report) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,301 shares of the construction company’s stock after selling 387 shares during the period. Foster & Motley Inc.’s holdings in Owens Corning were worth $6,353,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in shares of Owens Corning by 113.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after purchasing an additional 424,786 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Owens Corning by 16.4% during the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after purchasing an additional 261,564 shares during the period. Goldentree Asset Management LP acquired a new position in Owens Corning during the third quarter worth approximately $43,559,000. Nordea Investment Management AB raised its stake in 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 valued at $366,166,000 after buying an additional 238,694 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Owens Corning by 31.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock valued at $145,455,000 after buying an additional 197,667 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on OC shares. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Loop Capital dropped their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. UBS Group lifted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their price target on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and an average price target of $201.75.

Check Out Our Latest Stock Analysis on Owens Corning

Owens Corning Price Performance

Owens Corning stock opened at $187.22 on Thursday. The stock’s fifty day moving average price is $185.09 and its two-hundred day moving average price is $178.40. The firm has a market cap of $16.06 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 2.05 and a beta of 1.46. 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 $138.70 and a one year high of $214.53.

Owens Corning (NYSE:OCGet Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the business earned $4.15 earnings per share. As a group, research analysts expect that Owens Corning will post 15.47 EPS for the current fiscal year.

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, January 6th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Monday, January 6th. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio is 23.49%.

Insider Buying and Selling

In other news, insider Gunner Smith sold 17,450 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the transaction, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is currently owned by company insiders.

Owens Corning Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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