Owens Corning (NYSE:OC) Stock Holdings Cut by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its position in Owens Corning (NYSE:OC) by 30.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,635 shares of the construction company’s stock after selling 3,830 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Owens Corning were worth $1,465,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. UMB Bank n.a. lifted its holdings in Owens Corning by 52.3% in the 3rd quarter. UMB Bank n.a. now owns 623 shares of the construction company’s stock valued at $110,000 after acquiring an additional 214 shares during the last quarter. Sapient Capital LLC bought a new stake in shares of Owens Corning in the 3rd quarter worth approximately $6,370,000. Empirical Asset Management LLC lifted its stake in Owens Corning by 110.0% during the third quarter. Empirical Asset Management LLC now owns 3,430 shares of the construction company’s stock valued at $606,000 after purchasing an additional 1,797 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in Owens Corning by 7.7% during the third quarter. Wedge Capital Management L L P NC now owns 66,339 shares of the construction company’s stock worth $11,710,000 after buying an additional 4,766 shares in the last quarter. Finally, Creative Planning grew its position in Owens Corning by 16.4% in the third quarter. Creative Planning now owns 9,789 shares of the construction company’s stock worth $1,728,000 after buying an additional 1,379 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE:OC opened at $179.95 on Tuesday. The firm has a market cap of $15.44 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 2.01 and a beta of 1.46. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The business has a fifty day simple moving average of $181.58 and a 200 day simple moving average of $178.80.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders 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 dividend yield of 1.53%. Owens Corning’s dividend payout ratio is 23.49%.

Insider Buying and Selling

In related 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 of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on OC shares. Citigroup reduced their price objective 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. The Goldman Sachs Group lifted their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada upped their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Finally, UBS Group raised their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.75.

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.