Owens Corning (NYSE:OC) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in Owens Corning (NYSE:OC) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,946 shares of the construction company’s stock after selling 220 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Owens Corning were worth $3,227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. boosted its holdings in Owens Corning by 4.3% in 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 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 purchasing an additional 56 shares in the last quarter. Retirement Guys Formula LLC boosted its holdings in shares of Owens Corning by 3.1% in the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock valued at $341,000 after acquiring an additional 60 shares during the period. IFP Advisors Inc boosted its holdings in shares of Owens Corning by 35.6% in the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after acquiring an additional 62 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Owens Corning by 2.5% in the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock valued at $439,000 after acquiring an additional 62 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Trading Down 1.8 %

NYSE:OC opened at $144.49 on Monday. The stock has a fifty day moving average price of $167.56 and a two-hundred day moving average price of $176.76. The stock has a market capitalization of $12.36 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.88 and a beta of 1.52. 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 $137.50 and a 1 year high of $214.53.

Owens Corning (NYSE:OC) last released 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 firm had revenue of $2.84 billion during 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 business posted $3.21 earnings per share. As a group, sell-side analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on OC shares. Loop Capital decreased their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. JPMorgan Chase & Co. decreased their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Citigroup decreased their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Barclays cut their price target on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is currently owned by company insiders.

Owens Corning 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.