AQR Capital Management LLC Sells 301,471 Shares of Owens Corning (NYSE:OC)

AQR Capital Management LLC trimmed its stake in Owens Corning (NYSE:OC - Free Report) by 30.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 682,169 shares of the construction company's stock after selling 301,471 shares during the period. AQR Capital Management LLC owned 0.80% of Owens Corning worth $115,744,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Owens Corning during the 4th quarter valued at approximately $208,519,000. JPMorgan Chase & Co. lifted its holdings in shares of Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock worth $140,818,000 after buying an additional 424,786 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Owens Corning by 41.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company's stock valued at $242,337,000 after acquiring an additional 414,770 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Owens Corning in the fourth quarter worth $51,220,000. Finally, Nordea Investment Management AB increased its position in Owens Corning by 12.5% during the fourth 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 period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Price Performance

Shares of NYSE:OC traded up $1.91 on Friday, hitting $147.58. The stock had a trading volume of 688,852 shares, compared to its average volume of 806,679. The company has a market capitalization of $12.62 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm's 50 day moving average price is $142.45 and its 200-day moving average price is $169.69. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company's revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.21 earnings per share. On average, equities research analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were given a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.87%. Owens Corning's payout ratio is 37.70%.

Analysts Set New Price Targets

OC has been the subject of a number of research reports. Benchmark reissued a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. JPMorgan Chase & Co. decreased their target price on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Barclays lowered their price target on Owens Corning from $215.00 to $179.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft started coverage on Owens Corning in a report on Tuesday, April 1st. They set a "buy" rating and a $183.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on Owens Corning from $200.00 to $155.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Owens Corning has a consensus rating of "Moderate Buy" and an average price target of $195.73.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business'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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company's stock.

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.