Owens Corning (NYSE:OC) Shares Sold by Korea Investment CORP

Korea Investment CORP decreased its holdings in Owens Corning (NYSE:OC) by 33.8% during the 4th quarter, HoldingsChannel reports. The fund owned 120,944 shares of the construction company’s stock after selling 61,643 shares during the quarter. Korea Investment CORP’s holdings in Owens Corning were worth $20,599,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OC. FPC Investment Advisory Inc. acquired a new position in Owens Corning during the 4th quarter worth $28,000. Venturi Wealth Management LLC lifted its holdings in Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after buying an additional 63 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in Owens Corning in the fourth quarter worth $31,000. Wilmington Savings Fund Society FSB boosted its holdings in shares of Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after buying an additional 122 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in shares of Owens Corning during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred on 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 directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is currently owned by corporate insiders.

Owens Corning Price Performance

NYSE OC opened at $142.64 on Friday. Owens Corning has a 1 year low of $137.50 and a 1 year high of $214.53. The stock’s 50-day moving average price is $164.63 and its two-hundred day moving average price is $176.28. The company has a market cap of $12.20 billion, a PE ratio of 12.14, a PEG ratio of 1.88 and a beta of 1.52. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

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, beating analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the business earned $3.21 earnings per share. The firm’s revenue was up 23.3% compared to the same quarter last year. On average, analysts predict that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.93%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Analyst Upgrades and Downgrades

OC has been the subject of a number of research reports. Citigroup decreased their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $212.00 price objective on shares of Owens Corning in a research report on Monday, March 17th. JPMorgan Chase & Co. dropped their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Loop Capital dropped their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $204.18.

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.