Owens Corning (NYSE:OC) Holdings Trimmed by Pinebridge Investments L.P.

Pinebridge Investments L.P. lowered its position in shares of Owens Corning (NYSE:OC - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 25,860 shares of the construction company's stock after selling 2,117 shares during the quarter. Pinebridge Investments L.P.'s holdings in Owens Corning were worth $4,404,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in shares of Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock worth $366,166,000 after buying an additional 238,694 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Owens Corning by 41.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company's stock valued at $242,337,000 after buying an additional 414,770 shares in the last quarter. Norges Bank purchased a new stake in Owens Corning in the 4th quarter valued at $208,519,000. JPMorgan Chase & Co. grew its holdings in shares of Owens Corning by 113.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock worth $140,818,000 after purchasing an additional 424,786 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Owens Corning by 20.7% during the 4th quarter. First Trust Advisors LP now owns 744,771 shares of the construction company's stock worth $126,849,000 after purchasing an additional 127,785 shares during the period. Institutional investors and hedge funds own 88.40% of the company's stock.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OC. UBS Group lowered their price target on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft began coverage on Owens Corning in a research report on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price target on the stock. Barclays reduced their price target on Owens Corning from $215.00 to $179.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price target on Owens Corning from $200.00 to $155.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $195.73.

Owens Corning Trading Up 0.4 %

Shares of OC stock traded up $0.57 on Thursday, reaching $145.98. 130,459 shares of the stock were exchanged, compared to its average volume of 805,360. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53. The stock has a market cap of $12.49 billion, a P/E ratio of 12.44, a price-to-earnings-growth 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 firm has a 50 day moving average of $143.01 and a two-hundred day moving average of $170.25.

Owens Corning (NYSE:OC - Get Free Report) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating the consensus estimate 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%. The company's revenue was up 23.3% on a year-over-year basis. During the same period last year, the firm earned $3.21 earnings per share. On average, research analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.89%. Owens Corning's dividend payout ratio is currently 37.70%.

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.