Voya Investment Management LLC Has $11.63 Million Stock Position in Owens Corning (NYSE:OC)

Voya Investment Management LLC trimmed its position in Owens Corning (NYSE:OC - Free Report) by 14.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,288 shares of the construction company's stock after selling 11,374 shares during the quarter. Voya Investment Management LLC owned 0.08% of Owens Corning worth $11,631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OC. Stratos Wealth Partners LTD. raised its holdings in shares of Owens Corning by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock worth $221,000 after buying an additional 53 shares in the last quarter. Greenleaf Trust raised its stake in Owens Corning by 1.5% during the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company's stock worth $663,000 after acquiring an additional 56 shares in the last quarter. Retirement Guys Formula LLC lifted its holdings in shares of Owens Corning by 3.1% during the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company's stock valued at $341,000 after acquiring an additional 60 shares during the period. IFP Advisors Inc boosted its stake in shares of Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock valued at $40,000 after purchasing an additional 62 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Owens Corning by 2.5% in the 4th quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company's stock worth $439,000 after purchasing an additional 62 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company's stock in a transaction on Thursday, February 6th. The shares were 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 owns 11,635 shares in the company, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OC shares. UBS Group cut their price target on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Loop Capital reduced their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Citigroup cut their price objective on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Wells Fargo & Company decreased their target price on Owens Corning from $200.00 to $155.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. cut their price target on Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $195.73.

Owens Corning Trading Up 0.3 %

NYSE OC traded up $0.40 during trading hours on Thursday, hitting $145.81. The company's stock had a trading volume of 466,873 shares, compared to its average volume of 807,417. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53. The firm has a market capitalization of $12.47 billion, a P/E ratio of 12.41, a PEG ratio of 1.88 and a beta of 1.39. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock has a fifty day moving average of $142.67 and a 200 day moving average of $169.96.

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

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders 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 1.89%. Owens Corning's payout ratio is currently 37.70%.

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.