The Manufacturers Life Insurance Company Sells 1,761 Shares of Owens Corning (NYSE:OC)

The Manufacturers Life Insurance Company lessened its position in shares of Owens Corning (NYSE:OC - Free Report) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,556 shares of the construction company's stock after selling 1,761 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Owens Corning worth $9,292,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Owens Corning in the fourth quarter valued at $208,519,000. Price T Rowe Associates Inc. MD grew its stake in shares of 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 during the period. Raymond James Financial Inc. acquired a new position in Owens Corning during the 4th quarter worth approximately $51,220,000. Nordea Investment Management AB boosted its holdings in Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock worth $366,166,000 after acquiring an additional 238,694 shares in the last quarter. Finally, LGT Group Foundation acquired a new stake in Owens Corning in the fourth quarter valued at approximately $39,054,000. Institutional investors and hedge funds own 88.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OC shares. UBS Group reduced their price target on shares of Owens Corning from $235.00 to $218.00 and set a "buy" rating for the company in a research report on Thursday. StockNews.com lowered shares of Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Barclays cut their price target on Owens Corning from $179.00 to $167.00 and set an "overweight" rating for the company in a research note on Thursday. Loop Capital lowered their price objective on Owens Corning from $203.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Royal Bank of Canada lowered their price target on Owens Corning from $199.00 to $184.00 and set an "outperform" rating for the company in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.55.

Owens Corning Stock Performance

OC traded up $0.99 during midday trading on Friday, reaching $136.43. The company had a trading volume of 1,036,119 shares, compared to its average volume of 819,598. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The stock has a market cap of $11.67 billion, a PE ratio of 11.61, a P/E/G ratio of 1.88 and a beta of 1.44. The business has a 50-day moving average price of $141.36 and a two-hundred day moving average price of $168.33. Owens Corning has a 12-month low of $123.41 and a 12-month high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.15. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.52 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.40 EPS. On average, sell-side analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

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.