Cornercap Investment Counsel Inc. Sells 151 Shares of Owens Corning (NYSE:OC)

Cornercap Investment Counsel Inc. reduced its stake in Owens Corning (NYSE:OC) by 3.7% during the 4th quarter, HoldingsChannel reports. The fund owned 3,966 shares of the construction company’s stock after selling 151 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Owens Corning were worth $675,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Allstate Corp bought a new stake in shares of Owens Corning in the fourth quarter valued at about $425,000. denkapparat Operations GmbH bought a new stake in Owens Corning in the 4th quarter valued at approximately $220,000. Orion Portfolio Solutions LLC boosted its position in Owens Corning by 0.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 21,262 shares of the construction company’s stock worth $3,621,000 after acquiring an additional 107 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Owens Corning by 4.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 138,592 shares of the construction company’s stock worth $23,605,000 after acquiring an additional 5,826 shares in the last quarter. Finally, Triodos Investment Management BV lifted its position in shares of Owens Corning by 12.9% in the fourth quarter. Triodos Investment Management BV now owns 140,000 shares of the construction company’s stock worth $23,845,000 after purchasing an additional 16,000 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at $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 is available through the SEC website. Insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on OC. Loop Capital lowered 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. Wells Fargo & Company lowered their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. UBS Group lowered their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Finally, Citigroup cut their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $204.18.

Owens Corning Trading Down 3.1 %

OC stock opened at $142.64 on Friday. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The company has a fifty day moving average price of $164.63 and a two-hundred day moving average price of $176.28. Owens Corning has a one year low of $137.50 and a one 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 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 analysts’ expectations of $2.88 billion. During the same period in the prior year, the firm earned $3.21 EPS. The business’s revenue was up 23.3% on a year-over-year basis. Equities analysts anticipate 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. Investors of record on Monday, March 10th will be paid a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.93%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

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.