DekaBank Deutsche Girozentrale Reduces Holdings in Owens Corning (NYSE:OC)

DekaBank Deutsche Girozentrale lessened its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 11.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 550,746 shares of the construction company's stock after selling 68,768 shares during the period. DekaBank Deutsche Girozentrale owned about 0.62% of Owens Corning worth $80,919,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Allworth Financial LP grew its position in shares of Owens Corning by 401.8% during the 4th quarter. Allworth Financial LP now owns 1,706 shares of the construction company's stock worth $253,000 after purchasing an additional 1,366 shares in the last quarter. Arizona State Retirement System grew its position in shares of Owens Corning by 0.4% during the 4th quarter. Arizona State Retirement System now owns 24,690 shares of the construction company's stock worth $3,660,000 after purchasing an additional 106 shares in the last quarter. Estate Counselors LLC acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $743,000. State of Michigan Retirement System grew its position in shares of Owens Corning by 1.1% during the 4th quarter. State of Michigan Retirement System now owns 26,488 shares of the construction company's stock worth $3,926,000 after purchasing an additional 300 shares in the last quarter. Finally, Oak Thistle LLC boosted its position in shares of Owens Corning by 73.7% during the 4th quarter. Oak Thistle LLC now owns 6,225 shares of the construction company's stock worth $923,000 after acquiring an additional 2,642 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Trading Up 2.2 %

Shares of OC stock traded up $3.71 during trading hours on Friday, hitting $172.66. 520,001 shares of the company's stock traded hands, compared to its average volume of 633,688. The stock's 50 day simple moving average is $155.50 and its 200 day simple moving average is $143.16. The stock has a market cap of $15.02 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.46 and a beta of 1.47. Owens Corning has a 12 month low of $92.31 and a 12 month high of $173.65. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.50.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The construction company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.39. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the firm earned $2.49 earnings per share. The company's revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that Owens Corning will post 14.08 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Monday, March 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, March 1st. Owens Corning's dividend payout ratio (DPR) is presently 18.29%.

Insider Transactions at Owens Corning

In other news, CEO Brian Chambers sold 9,100 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the completion of the sale, the chief executive officer now directly owns 269,696 shares in the company, valued at $41,417,214.72. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Gunner Smith sold 657 shares of Owens Corning stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $153.36, for a total transaction of $100,757.52. Following the completion of the transaction, the insider now directly owns 37,587 shares in the company, valued at $5,764,342.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Chambers sold 9,100 shares of the firm's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the transaction, the chief executive officer now directly owns 269,696 shares in the company, valued at $41,417,214.72. The disclosure for this sale can be found here. Insiders sold a total of 21,672 shares of company stock worth $3,325,799 over the last three months. 0.89% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on OC shares. Truist Financial increased their price target on shares of Owens Corning from $115.00 to $145.00 and gave the stock a "hold" rating in a research report on Thursday, February 15th. Royal Bank of Canada reduced their price target on shares of Owens Corning from $183.00 to $175.00 and set an "outperform" rating on the stock in a research report on Thursday, February 15th. Loop Capital increased their price target on shares of Owens Corning from $167.00 to $188.00 and gave the stock a "buy" rating in a research report on Monday, April 1st. Barclays downgraded shares of Owens Corning from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $170.00 to $160.00 in a research note on Monday, February 12th. Finally, The Goldman Sachs Group increased their price objective on shares of Owens Corning from $130.00 to $147.00 and gave the company a "neutral" rating in a research note on Thursday, December 14th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Owens Corning presently has a consensus rating of "Moderate Buy" and an average price target of $162.14.

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.