Orion Portfolio Solutions LLC Has $3.62 Million Stake in Owens Corning (NYSE:OC)

Orion Portfolio Solutions LLC raised its holdings in shares of Owens Corning (NYSE:OC) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,262 shares of the construction company’s stock after acquiring an additional 107 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Owens Corning were worth $3,621,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Owens Corning by 4.7% in 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 grew its stake in shares of Owens Corning by 12.5% in 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. Norges Bank bought a new position in Owens Corning during the fourth quarter valued at approximately $208,519,000. JPMorgan Chase & Co. lifted its stake in Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after acquiring an additional 424,786 shares during 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 owned by hedge funds and other institutional investors.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.82% of the company’s stock.

Owens Corning Stock Performance

NYSE OC opened at $142.64 on Monday. The company’s fifty day moving average is $164.63 and its two-hundred day moving average is $176.39. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 1.88 and a beta of 1.52. 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 52-week low of $137.50 and a 52-week high of $214.53.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the company posted $3.21 earnings per share. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. Equities research analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders 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 yield of 1.93%. Owens Corning’s dividend payout ratio is currently 37.70%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on OC shares. Loop Capital reduced their price objective 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. Royal Bank of Canada restated an “outperform” rating and set a $212.00 target price on shares of Owens Corning in a report on Monday, March 17th. JPMorgan Chase & Co. decreased their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Citigroup cut their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.18.

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.