Blueshift Asset Management LLC Cuts Position in Owens Corning (NYSE:OC)

Blueshift Asset Management LLC trimmed its position in shares of Owens Corning (NYSE:OC) by 73.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,664 shares of the construction company’s stock after selling 4,598 shares during the period. Blueshift Asset Management LLC’s holdings in Owens Corning were worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in Owens Corning by 4.7% during the third quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock valued at $738,104,000 after purchasing an additional 187,001 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Owens Corning by 12.5% during the 4th 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Owens Corning by 31.6% in the 3rd 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 acquiring an additional 197,667 shares during the last quarter. JPMorgan Chase & Co. grew its position in Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after acquiring an additional 424,786 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Owens Corning by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company’s stock worth $128,379,000 after acquiring an additional 24,522 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Price Performance

Shares of OC stock opened at $144.49 on Friday. The company has a market capitalization of $12.36 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.88 and a beta of 1.52. The company’s 50-day simple moving average is $167.56 and its two-hundred day simple moving average is $176.53. Owens Corning has a one year low of $137.50 and a one year high of $214.53. 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 quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (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%. 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 earned $3.21 earnings per share. As a group, equities analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The company 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 is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.91%. Owens Corning’s dividend payout ratio is currently 37.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Loop Capital decreased their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Barclays lowered their price target on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. UBS Group cut their price objective on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Citigroup lowered their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.18.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred on Thursday, February 6th. The shares were 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. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.89% of the stock is owned by 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.