Marietta Investment Partners LLC Sells 1,185 Shares of Owens Corning (NYSE:OC)

Marietta Investment Partners LLC reduced its position in shares of Owens Corning (NYSE:OC) by 3.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 28,911 shares of the construction company’s stock after selling 1,185 shares during the quarter. Owens Corning comprises approximately 1.1% of Marietta Investment Partners LLC’s holdings, making the stock its 29th largest holding. Marietta Investment Partners LLC’s holdings in Owens Corning were worth $4,924,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis Advisors LLC increased its stake in Owens Corning by 1.9% in the third quarter. Natixis Advisors LLC now owns 17,903 shares of the construction company’s stock worth $3,160,000 after purchasing an additional 339 shares during the period. Caprock Group LLC boosted its position in Owens Corning by 14.6% during the third quarter. Caprock Group LLC now owns 5,548 shares of the construction company’s stock valued at $979,000 after purchasing an additional 708 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Owens Corning in the third quarter worth about $607,000. Commerce Bank boosted its holdings in Owens Corning by 13.8% in the third quarter. Commerce Bank now owns 3,300 shares of the construction company’s stock worth $583,000 after acquiring an additional 399 shares in the last quarter. Finally, Foundry Partners LLC acquired a new stake in Owens Corning in the third quarter worth about $611,000. 88.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on OC. Wells Fargo & Company reduced their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Barclays lowered their price target on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and set a $212.00 price objective on shares of Owens Corning in a research note on Monday, March 17th. Finally, StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Owens Corning has a consensus rating of “Moderate Buy” and a consensus target price of $204.18.

Owens Corning Price Performance

Shares of NYSE:OC opened at $144.49 on Friday. The business’s fifty day moving average price is $167.56 and its two-hundred day moving average price is $176.53. The stock has a market cap of $12.36 billion, a PE 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 has a one year low of $137.50 and a one year high of $214.53.

Owens Corning (NYSE:OC) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the firm earned $3.21 earnings per share. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders 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 dividend on an annualized basis and a yield of 1.91%. Owens Corning’s payout ratio is currently 37.70%.

Insider Buying and Selling at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business’s 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 sale, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is currently owned by insiders.

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.