Mitsubishi UFJ Trust & Banking Corp Sells 8,211 Shares of Owens Corning (NYSE:OC)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Owens Corning (NYSE:OC) by 5.0% during the 4th quarter, Holdings Channel reports. The firm owned 156,175 shares of the construction company’s stock after selling 8,211 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Owens Corning were worth $26,600,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after purchasing an additional 424,786 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Owens Corning in the 4th quarter valued at about $51,220,000. Goldentree Asset Management LP acquired a new stake in shares of Owens Corning in the 3rd quarter valued at approximately $43,559,000. Nordea Investment Management AB boosted its stake in Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after acquiring an additional 238,694 shares during the last quarter. Finally, LGT Group Foundation acquired a new position in Owens Corning during the fourth quarter valued at approximately $39,054,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Down 1.0 %

Owens Corning stock opened at $147.77 on Thursday. The company has a fifty day simple moving average of $166.07 and a 200 day simple moving average of $176.45. 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 has a 1-year low of $137.50 and a 1-year high of $214.53. The company has a market cap of $12.64 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last released its 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 return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the business earned $3.21 earnings per share. Owens Corning’s quarterly revenue was up 23.3% on a year-over-year basis. Research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, March 10th. Owens Corning’s payout ratio is presently 37.70%.

Insider Activity at Owens Corning

In other news, 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 value of $321,947.50. Following the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is owned by company insiders.

Analyst Ratings Changes

OC has been the topic of a number of recent analyst reports. Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Barclays decreased their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company dropped their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Citigroup dropped their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.18.

Owens Corning Company 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.