Andra AP fonden Sells 59,000 Shares of Owens Corning (NYSE:OC)

Andra AP fonden reduced its position in shares of Owens Corning (NYSE:OC) by 92.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,600 shares of the construction company’s stock after selling 59,000 shares during the quarter. Andra AP fonden’s holdings in Owens Corning were worth $783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. raised its holdings in Owens Corning by 4.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after buying an additional 53 shares during the last quarter. Greenleaf Trust increased its position in Owens Corning by 1.5% during the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after purchasing an additional 56 shares during the period. Retirement Guys Formula LLC increased its position in Owens Corning by 3.1% during the 4th quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock valued at $341,000 after purchasing an additional 60 shares during the period. IFP Advisors Inc increased its position in Owens Corning by 35.6% during the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after purchasing an additional 62 shares during the period. Finally, Venturi Wealth Management LLC increased its position in Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after purchasing an additional 63 shares during the period. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Stock Performance

Shares of OC stock opened at $144.54 on Monday. Owens Corning has a one year low of $140.94 and a one year high of $214.53. The company’s 50-day moving average is $172.91 and its 200 day moving average is $178.38. The company has a market capitalization of $12.36 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. 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 announced its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS 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 company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the firm posted $3.21 EPS. Owens Corning’s revenue for the quarter was up 23.3% on a year-over-year basis. Sell-side analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company 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. This represents a $2.76 annualized dividend and a yield of 1.91%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is 37.70%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on OC shares. Barclays reduced their price objective on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company reduced their price objective on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Royal Bank of Canada reduced their price objective on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. Loop Capital reduced their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Citigroup reduced their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.18.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. This represents 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 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.