O Shaughnessy Asset Management LLC Lowers Stock Position in Owens Corning (NYSE:OC)

O Shaughnessy Asset Management LLC cut its position in shares of Owens Corning (NYSE:OC) by 42.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,870 shares of the construction company’s stock after selling 55,239 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.09% of Owens Corning worth $12,922,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in shares of Owens Corning in the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC grew its stake in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after purchasing an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new stake in shares of Owens Corning during the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB increased its position in shares of Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after purchasing an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Owens Corning during the 4th quarter worth $34,000. 88.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OC. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Barclays dropped their price objective on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Loop Capital dropped their price target 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. Finally, 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. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $204.18.

Owens Corning Price Performance

OC stock opened at $142.81 on Tuesday. The firm has a 50 day moving average of $163.83 and a 200-day moving average of $176.26. The firm has a market capitalization of $12.22 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. 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 announced its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the firm earned $3.21 EPS. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, sell-side analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be paid a $0.69 dividend. The ex-dividend date 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%.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction 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 sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.

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.