Hsbc Holdings PLC Has $38.29 Million Stock Position in Owens Corning (NYSE:OC)

Hsbc Holdings PLC lessened its stake in Owens Corning (NYSE:OC - Free Report) by 41.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 224,894 shares of the construction company's stock after selling 160,382 shares during the quarter. Hsbc Holdings PLC owned approximately 0.26% of Owens Corning worth $38,286,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of OC. FPC Investment Advisory Inc. purchased a new position in Owens Corning in the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC raised its holdings in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after buying an additional 63 shares during the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Owens Corning during the fourth quarter valued at $31,000. Wilmington Savings Fund Society FSB raised its stake in Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock valued at $32,000 after buying an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new position in shares of Owens Corning in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Stock Performance

NYSE:OC traded up $0.61 during midday trading on Thursday, reaching $146.02. The stock had a trading volume of 130,459 shares, compared to its average volume of 950,909. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The firm's fifty day simple moving average is $143.01 and its 200-day simple moving average is $170.25. The stock has a market capitalization of $12.49 billion, a P/E ratio of 12.44, a PEG ratio of 1.88 and a beta of 1.39. Owens Corning has a 1-year low of $123.40 and a 1-year high of $214.53.

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

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm'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 sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on OC. Deutsche Bank Aktiengesellschaft initiated coverage on Owens Corning in a report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price target on the stock. UBS Group reduced their price objective on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Benchmark restated a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Citigroup dropped their target price on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, Loop Capital cut their target price on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $195.73.

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.