Vinva Investment Management Ltd Has $273,000 Stock Holdings in Owens Corning (NYSE:OC)

Vinva Investment Management Ltd decreased its holdings in shares of Owens Corning (NYSE:OC) by 70.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,611 shares of the construction company’s stock after selling 3,828 shares during the quarter. Vinva Investment Management Ltd’s holdings in Owens Corning were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of OC. JPMorgan Chase & Co. grew its holdings in shares of Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after buying an additional 424,786 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Owens Corning in the fourth quarter valued at about $51,220,000. Goldentree Asset Management LP purchased a new position in Owens Corning in the third quarter valued at about $43,559,000. Nordea Investment Management AB grew its stake 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 valued at $366,166,000 after purchasing an additional 238,694 shares in the last quarter. Finally, LGT Group Foundation purchased a new position in Owens Corning in the fourth quarter valued at about $39,054,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE:OC opened at $144.49 on Friday. Owens Corning has a fifty-two week low of $137.50 and a fifty-two week 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. The stock has a market capitalization of $12.36 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.88 and a beta of 1.52. The business has a 50-day moving average of $167.56 and a two-hundred day moving average of $176.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the firm earned $3.21 EPS. The firm’s revenue was up 23.3% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.91%. Owens Corning’s dividend payout ratio is presently 37.70%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Loop Capital lowered their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Benchmark restated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Barclays lowered their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $204.18.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company’s 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 of the company’s stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.