Duality Advisers LP Cuts Position in Owens Corning (NYSE:OC)

Duality Advisers LP lessened its stake in shares of Owens Corning (NYSE:OC - Free Report) by 77.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,397 shares of the construction company's stock after selling 8,314 shares during the quarter. Duality Advisers LP's holdings in Owens Corning were worth $355,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of OC. Contravisory Investment Management Inc. acquired a new stake in Owens Corning during the 4th quarter valued at $27,000. Bruce G. Allen Investments LLC acquired a new stake in Owens Corning during the 4th quarter valued at $27,000. VisionPoint Advisory Group LLC increased its holdings in Owens Corning by 53.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 254 shares of the construction company's stock valued at $35,000 after purchasing an additional 88 shares in the last quarter. BluePath Capital Management LLC acquired a new stake in Owens Corning during the 3rd quarter valued at $36,000. Finally, Blue Trust Inc. increased its stake in shares of Owens Corning by 42.2% in the 4th quarter. Blue Trust Inc. now owns 263 shares of the construction company's stock valued at $36,000 after buying an additional 78 shares during the period. Institutional investors own 88.40% of the company's stock.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 708 shares of the company's 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 completion of the transaction, the insider now directly owns 39,994 shares of the company's stock, valued at $6,148,277.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Gunner Smith sold 708 shares of the company's 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 sale, the insider now owns 39,994 shares in the company, valued at $6,148,277.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the company's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the sale, the executive vice president now owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. Insiders sold 21,672 shares of company stock valued at $3,325,799 over the last three months. Company insiders own 0.89% of the company's stock.

Analysts Set New Price Targets

OC has been the subject of several research reports. Argus lifted their target price on Owens Corning from $175.00 to $182.00 and gave the company a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. lowered their target price on Owens Corning from $164.00 to $163.00 and set a "neutral" rating for the company in a research note on Tuesday, February 20th. Loop Capital lifted their target price on Owens Corning from $167.00 to $188.00 and gave the company a "buy" rating in a research note on Monday, April 1st. Royal Bank of Canada lifted their target price on Owens Corning from $175.00 to $192.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, UBS Group lifted their target price on Owens Corning from $169.00 to $192.00 and gave the company a "buy" rating in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Owens Corning presently has an average rating of "Moderate Buy" and an average price target of $168.21.

Owens Corning Trading Up 2.1 %

OC stock traded up $3.46 during midday trading on Friday, hitting $168.50. 527,322 shares of the company's stock were exchanged, compared to its average volume of 599,767. The stock's fifty day moving average price is $159.88 and its 200-day moving average price is $146.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.76. The company has a market cap of $14.60 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 6.97 and a beta of 1.47. Owens Corning has a one year low of $99.49 and a one year high of $173.65.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.55. The company had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.28 billion. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. Owens Corning's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.77 earnings per share. Research analysts predict that Owens Corning will post 13.92 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. Stockholders of record on Monday, March 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.42%. Owens Corning's dividend payout ratio is currently 19.43%.

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.