First Trust Advisors LP Has $126.85 Million Stock Holdings in Owens Corning (NYSE:OC)

First Trust Advisors LP boosted its position in shares of Owens Corning (NYSE:OC) by 20.7% in the fourth quarter, Holdings Channel reports. The firm owned 744,771 shares of the construction company’s stock after purchasing an additional 127,785 shares during the period. First Trust Advisors LP’s holdings in Owens Corning were worth $126,849,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC increased its position in shares of Owens Corning by 23.3% in the 3rd quarter. Barclays PLC now owns 125,756 shares of the construction company’s stock valued at $22,197,000 after buying an additional 23,787 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of Owens Corning in the third quarter worth about $23,002,000. Synovus Financial Corp acquired a new stake in shares of Owens Corning during the third quarter worth about $337,000. Franklin Resources Inc. lifted its holdings in shares of Owens Corning by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 444,748 shares of the construction company’s stock valued at $83,381,000 after purchasing an additional 22,500 shares in the last quarter. Finally, Retirement Systems of Alabama grew its position in shares of Owens Corning by 3.1% in the 3rd quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company’s stock valued at $34,717,000 after purchasing an additional 5,916 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on OC. JPMorgan Chase & Co. reduced their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Barclays decreased their price objective on Owens Corning from $215.00 to $179.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Owens Corning in a research note on Tuesday, April 1st. They issued a “buy” rating and a $183.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.58.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction on 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 owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Owens Corning Trading Up 1.0 %

Shares of Owens Corning stock opened at $137.98 on Monday. The stock has a market cap of $11.80 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.88 and a beta of 1.39. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a 12-month low of $123.41 and a 12-month high of $214.53. The business’s 50 day moving average is $148.43 and its 200-day moving average is $172.23.

Owens Corning (NYSE:OC) last posted its quarterly earnings results 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. 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 for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the firm 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 predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were paid a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 2.00%. Owens Corning’s dividend payout ratio (DPR) is currently 37.70%.

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.