FineMark National Bank & Trust Sells 149 Shares of Owens Corning (NYSE:OC)

FineMark National Bank & Trust decreased its position in Owens Corning (NYSE:OC) by 0.4% during the fourth quarter, Holdings Channel reports. The fund owned 37,579 shares of the construction company’s stock after selling 149 shares during the period. FineMark National Bank & Trust’s holdings in Owens Corning were worth $6,400,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its stake in shares of Owens Corning by 4.7% in the 3rd quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock worth $738,104,000 after purchasing an additional 187,001 shares during the period. Nordea Investment Management AB raised its position in Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after acquiring an additional 238,694 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Owens Corning by 31.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock worth $145,455,000 after acquiring an additional 197,667 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Owens Corning by 113.9% during the 3rd 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Owens Corning by 3.5% in the 3rd 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 purchasing an additional 24,522 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Trading Up 4.7 %

Shares of OC stock opened at $151.21 on Tuesday. The stock’s 50-day moving average price is $167.19 and its 200-day moving average price is $176.71. Owens Corning has a 12-month low of $137.50 and a 12-month high of $214.53. The stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. 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 issued 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. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the firm earned $3.21 EPS. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. Equities research analysts predict that Owens Corning will post 15.49 EPS 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. Stockholders of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.83%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OC. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays cut their price objective 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. Loop Capital decreased their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $212.00 price target on shares of Owens Corning in a research report on Monday, March 17th. Finally, UBS Group reduced their price objective on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.18.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred 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 completion of the transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.89% 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.