LSV Asset Management Has $283.90 Million Stock Holdings in Owens Corning (NYSE:OC)

LSV Asset Management reduced its holdings in shares of Owens Corning (NYSE:OC) by 21.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,634,217 shares of the construction company’s stock after selling 435,625 shares during the period. LSV Asset Management owned about 1.89% of Owens Corning worth $283,896,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in Owens Corning during the fourth quarter worth $118,251,000. Nordea Investment Management AB grew its holdings in shares of Owens Corning by 74.4% in the 1st quarter. Nordea Investment Management AB now owns 1,251,653 shares of the construction company’s stock worth $210,040,000 after purchasing an additional 533,910 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Owens Corning by 2,813.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 378,856 shares of the construction company’s stock worth $65,815,000 after purchasing an additional 365,853 shares in the last quarter. Swedbank AB bought a new position in Owens Corning during the 1st quarter valued at about $60,424,000. Finally, Guinness Asset Management LTD acquired a new position in Owens Corning in the second quarter valued at about $30,708,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 1.1 %

Shares of NYSE OC traded down $1.79 during mid-day trading on Friday, reaching $157.15. 689,124 shares of the company’s stock were exchanged, compared to its average volume of 670,554. Owens Corning has a twelve month low of $109.95 and a twelve month high of $191.13. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $13.62 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 3.35 and a beta of 1.41. The business has a fifty day simple moving average of $168.14 and a 200 day simple moving average of $168.27.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $4.64 EPS for the quarter, topping analysts’ consensus estimates of $4.37 by $0.27. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.92 billion. Owens Corning had a net margin of 10.66% and a return on equity of 26.33%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $4.22 earnings per share. As a group, equities analysts expect that Owens Corning will post 15.38 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 15th were issued a $0.60 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.53%. Owens Corning’s dividend payout ratio (DPR) is presently 19.43%.

Insider Transactions at Owens Corning

In other news, VP Mari Doerfler sold 240 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $182.05, for a total transaction of $43,692.00. Following the completion of the transaction, the vice president now directly owns 4,954 shares in the company, valued at approximately $901,875.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Mari Doerfler sold 240 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $182.05, for a total transaction of $43,692.00. Following the sale, the vice president now owns 4,954 shares in the company, valued at approximately $901,875.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Todd W. Fister sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $173.65, for a total value of $520,950.00. Following the completion of the sale, the chief financial officer now directly owns 31,626 shares of the company’s stock, valued at approximately $5,491,854.90. The disclosure for this sale can be found here. Insiders have sold a total of 6,240 shares of company stock valued at $1,107,192 over the last 90 days. 0.89% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OC. The Goldman Sachs Group reiterated a “neutral” rating and issued a $187.00 price objective on shares of Owens Corning in a research report on Monday, June 17th. Royal Bank of Canada upped their price target on shares of Owens Corning from $211.00 to $213.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Citigroup upgraded shares of Owens Corning from a “neutral” rating to a “buy” rating and raised their price objective for the company from $178.00 to $191.00 in a research report on Thursday, July 11th. Barclays reduced their target price on shares of Owens Corning from $190.00 to $189.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Finally, Jefferies Financial Group initiated coverage on shares of Owens Corning in a report on Wednesday, May 22nd. They issued a “buy” rating and a $215.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and an average price target of $184.23.

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.