Owens Corning (NYSE:OC) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its stake in Owens Corning (NYSE:OC) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,606 shares of the construction company’s stock after selling 319 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Owens Corning were worth $784,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Owens Corning in the third quarter valued at $607,000. Commerce Bank boosted its position in Owens Corning by 13.8% in the 3rd quarter. Commerce Bank now owns 3,300 shares of the construction company’s stock valued at $583,000 after buying an additional 399 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position 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 valued at $838,000 after buying an additional 743 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Owens Corning by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 593,154 shares of the construction company’s stock valued at $104,704,000 after acquiring an additional 2,870 shares in the last quarter. Finally, Pitcairn Co. purchased a new stake in shares of Owens Corning during the third quarter worth about $252,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on OC shares. Barclays lowered 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. UBS Group cut their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Loop Capital decreased their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Citigroup cut their target price on shares of 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 reiterated 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 stock. According to data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and an average price target of $204.18.

Owens Corning Price Performance

Shares of NYSE OC opened at $151.21 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The firm has a market capitalization of $12.93 billion, a PE ratio of 12.87, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a 1-year low of $137.50 and a 1-year high of $214.53. The business’s fifty day moving average price is $167.19 and its two-hundred day moving average price is $176.71.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share 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 for the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the firm posted $3.21 EPS. Owens Corning’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, research analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is 37.70%.

Insider Activity at Owens Corning

In other 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 transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. 0.89% of the stock is owned by insiders.

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.