American Century Companies Inc. Sells 1,948 Shares of Owens Corning (NYSE:OC)

American Century Companies Inc. lessened its holdings in shares of Owens Corning (NYSE:OC) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 253,610 shares of the construction company’s stock after selling 1,948 shares during the quarter. American Century Companies Inc. owned approximately 0.30% of Owens Corning worth $43,195,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its holdings in Owens Corning by 18.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,749 shares of the construction company’s stock worth $838,000 after purchasing an additional 743 shares in the last quarter. Pitcairn Co. bought a new position in Owens Corning in the third quarter worth about $252,000. Penserra Capital Management LLC lifted its holdings in Owens Corning by 53.3% in the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock worth $832,000 after buying an additional 1,643 shares during the period. Daiwa Securities Group Inc. boosted its position in Owens Corning by 5.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 13,586 shares of the construction company’s stock valued at $2,399,000 after acquiring an additional 700 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Owens Corning by 5.6% during the 3rd quarter. Fisher Asset Management LLC now owns 141,803 shares of the construction company’s stock worth $25,031,000 after acquiring an additional 7,553 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of OC opened at $147.25 on Friday. The company has a market cap of $12.60 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 1.88 and a beta of 1.52. The business’s fifty day simple moving average is $165.43 and its two-hundred day simple moving average is $176.25. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

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 the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the company earned $3.21 EPS. Research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio is currently 37.70%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business’s 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 completion of the sale, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.89% of the stock is currently owned by insiders.

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.