O Shaughnessy Asset Management LLC Sells 55,239 Shares of Owens Corning (NYSE:OC)

O Shaughnessy Asset Management LLC reduced its holdings in shares of Owens Corning (NYSE:OC) by 42.1% during the fourth quarter, Holdings Channel reports. The fund owned 75,870 shares of the construction company’s stock after selling 55,239 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Owens Corning were worth $12,922,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. FPC Investment Advisory Inc. purchased a new stake in shares of Owens Corning in the 4th quarter valued at $28,000. Venturi Wealth Management LLC lifted its stake in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC purchased a new stake in Owens Corning during the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB grew its stake in shares of Owens Corning by 193.7% during the fourth 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 last quarter. Finally, Whipplewood Advisors LLC purchased a new position in shares of Owens Corning in the fourth quarter worth about $34,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Stock Performance

Owens Corning stock opened at $142.81 on Tuesday. Owens Corning has a fifty-two week low of $137.50 and a fifty-two week high of $214.53. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.88 and a beta of 1.52. The stock’s 50 day simple moving average is $163.83 and its two-hundred day simple moving average is $176.26. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

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. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.21 earnings per share. As a group, analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The firm 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 of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.93%. Owens Corning’s payout ratio is 37.70%.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm’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 transaction 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 trade represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on OC. Loop Capital dropped their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Barclays cut their target price on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company lowered their price target on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus 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.