Guggenheim Capital LLC Sells 11,837 Shares of Owens Corning (NYSE:OC)

Guggenheim Capital LLC reduced its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 60.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,885 shares of the construction company's stock after selling 11,837 shares during the period. Guggenheim Capital LLC's holdings in Owens Corning were worth $1,343,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OC. Barclays PLC boosted its stake in shares of Owens Corning by 23.3% during the third quarter. Barclays PLC now owns 125,756 shares of the construction company's stock valued at $22,197,000 after acquiring an additional 23,787 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Owens Corning in the 3rd quarter valued at $23,002,000. Synovus Financial Corp acquired a new position in shares of Owens Corning during the third quarter worth about $337,000. Franklin Resources Inc. boosted its holdings in Owens Corning by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 444,748 shares of the construction company's stock worth $83,381,000 after acquiring an additional 22,500 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in Owens Corning by 3.1% during the 3rd quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company's stock valued at $34,717,000 after purchasing an additional 5,916 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Trading Down 0.0 %

OC stock traded down $0.01 during midday trading on Friday, reaching $143.95. The company's stock had a trading volume of 871,331 shares, compared to its average volume of 808,779. 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 has a 52 week low of $123.41 and a 52 week high of $214.53. The stock has a market cap of $12.31 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. The business's 50-day simple moving average is $144.56 and its 200-day simple moving average is $170.86.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same period last year, the firm posted $3.21 earnings per share. The business's quarterly revenue was up 23.3% compared to the same quarter last year. As a group, sell-side analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors 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 yield of 1.92%. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business's stock in a transaction on Thursday, February 6th. The stock was 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 directly owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.82% of the company's stock.

Analyst Upgrades and Downgrades

OC has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their target price on shares of Owens Corning from $200.00 to $155.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Loop Capital dropped their price objective on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft began coverage on Owens Corning in a research report on Tuesday, April 1st. They set a "buy" rating and a $183.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Finally, Citigroup lowered their target price on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $195.73.

Owens Corning 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.