Meeder Asset Management Inc. Trims Stock Position in Owens Corning (NYSE:OC)

Meeder Asset Management Inc. lessened its stake in Owens Corning (NYSE:OC - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,776 shares of the construction company's stock after selling 6,081 shares during the period. Meeder Asset Management Inc.'s holdings in Owens Corning were worth $3,969,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. acquired a new stake in Owens Corning in the fourth quarter worth about $27,000. Bruce G. Allen Investments LLC bought a new stake in Owens Corning in the fourth quarter worth about $27,000. Financial Management Professionals Inc. bought a new stake in Owens Corning in the third quarter worth about $29,000. First Capital Advisors Group LLC. bought a new stake in Owens Corning in the second quarter worth about $31,000. Finally, IFP Advisors Inc raised its position in Owens Corning by 78.1% in the second quarter. IFP Advisors Inc now owns 244 shares of the construction company's stock worth $32,000 after acquiring an additional 107 shares in the last quarter. Institutional investors own 88.40% of the company's stock.

Insider Buying and Selling at Owens Corning

In related news, insider Gunner Smith sold 708 shares of the company's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $153.73, for a total value of $108,840.84. Following the completion of the sale, the insider now owns 39,994 shares in the company, valued at approximately $6,148,277.62. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Brian Chambers sold 9,100 shares of the 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 completion of the transaction, the chief executive officer now directly owns 269,696 shares in the company, valued at approximately $41,417,214.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gunner Smith sold 708 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $153.73, for a total transaction of $108,840.84. Following the transaction, the insider now owns 39,994 shares of the company's stock, valued at $6,148,277.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,672 shares of company stock worth $3,325,799. Insiders own 0.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OC. Citigroup boosted their price objective on Owens Corning from $150.00 to $169.00 and gave the stock a "neutral" rating in a report on Friday. JPMorgan Chase & Co. cut their price objective on Owens Corning from $164.00 to $163.00 and set a "neutral" rating on the stock in a report on Tuesday, February 20th. Truist Financial boosted their price objective on Owens Corning from $115.00 to $145.00 and gave the stock a "hold" rating in a report on Thursday, February 15th. Loop Capital upped their target price on Owens Corning from $167.00 to $188.00 and gave the company a "buy" rating in a report on Monday, April 1st. Finally, Evercore ISI downgraded Owens Corning from an "outperform" rating to an "in-line" rating and dropped their target price for the company from $163.00 to $154.00 in a report on Thursday, February 15th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Owens Corning has a consensus rating of "Moderate Buy" and an average price target of $162.14.

Owens Corning Price Performance

Shares of OC traded up $3.71 on Friday, hitting $172.66. The company's stock had a trading volume of 520,001 shares, compared to its average volume of 633,688. The company has a market capitalization of $15.02 billion, a PE ratio of 13.16, a PEG ratio of 0.47 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 1.17. Owens Corning has a fifty-two week low of $92.31 and a fifty-two week high of $173.65. The company has a 50 day moving average price of $155.50 and a 200 day moving average price of $143.21.

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

Owens Corning Announces Dividend

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

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.