Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 13,600 Shares of Owens Corning (NYSE:OC)

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in shares of Owens Corning (NYSE:OC) by 56.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,704 shares of the construction company’s stock after selling 13,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Owens Corning were worth $1,823,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new stake in Owens Corning during the fourth quarter worth about $28,000. Handelsbanken Fonder AB grew its stake in Owens Corning by 13.6% during the fourth quarter. Handelsbanken Fonder AB now owns 25,100 shares of the construction company’s stock worth $4,275,000 after buying an additional 3,000 shares in the last quarter. Global Retirement Partners LLC grew its stake in Owens Corning by 35.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,129 shares of the construction company’s stock worth $192,000 after buying an additional 297 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in Owens Corning during the fourth quarter worth about $50,000. Finally, Atria Wealth Solutions Inc. grew its stake in Owens Corning by 16.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,759 shares of the construction company’s stock worth $640,000 after buying an additional 521 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OC has been the topic of a number of analyst reports. Citigroup reduced their price objective 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. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday. Evercore ISI raised their price target on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Loop Capital reduced their price target 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. Finally, Barclays reduced their price target on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $207.00.

Owens Corning Stock Down 3.2 %

Shares of NYSE OC opened at $153.92 on Thursday. The company has a 50 day simple moving average of $176.07 and a 200 day simple moving average of $178.84. The firm has a market cap of $13.20 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46. Owens Corning has a 1 year low of $147.20 and a 1 year high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

Owens Corning (NYSE:OC) last released 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 during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the business earned $3.21 EPS. The company’s revenue was up 23.3% compared to the same quarter last year. On average, research analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.79%. Owens Corning’s payout ratio is 23.49%.

Insiders Place Their Bets

In other news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares in the company, valued at $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning 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 completion of the sale, the insider now owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

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.