BI Asset Management Fondsmaeglerselskab A S Sells 3,600 Shares of Owens Corning (NYSE:OC)

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,917 shares of the construction company's stock after selling 3,600 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.08% of Owens Corning worth $12,079,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in OC. First Trust Advisors LP lifted its stake in Owens Corning by 20.7% during the 4th quarter. First Trust Advisors LP now owns 744,771 shares of the construction company's stock valued at $126,849,000 after acquiring an additional 127,785 shares during the period. Alpha DNA Investment Management LLC grew its stake in shares of Owens Corning by 7.3% during the 4th quarter. Alpha DNA Investment Management LLC now owns 4,580 shares of the construction company's stock valued at $780,000 after purchasing an additional 310 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Owens Corning by 5.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 158,054 shares of the construction company's stock worth $26,931,000 after purchasing an additional 7,854 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Owens Corning by 989.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 42,500 shares of the construction company's stock worth $7,239,000 after purchasing an additional 38,600 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of Owens Corning by 143.0% in the fourth quarter. Marshall Wace LLP now owns 292,156 shares of the construction company's stock worth $49,760,000 after buying an additional 171,930 shares during the last quarter. Institutional investors own 88.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on OC shares. JPMorgan Chase & Co. decreased their price target on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Loop Capital decreased their price objective on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company reduced their target price on shares of Owens Corning from $200.00 to $155.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Royal Bank of Canada lowered their price target on shares of Owens Corning from $212.00 to $199.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Citigroup reduced their price objective on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Owens Corning presently has an average rating of "Moderate Buy" and an average target price of $194.58.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.82% of the company's stock.

Owens Corning Trading Up 0.1 %

NYSE OC traded up $0.21 during trading hours on Friday, hitting $144.17. 383,727 shares of the company were exchanged, compared to its average volume of 805,536. The stock has a market cap of $12.33 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53. The stock has a 50-day moving average price of $145.23 and a 200 day moving average price of $171.23. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

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

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were given a dividend of $0.69 per share. The ex-dividend date was Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.91%. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

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.