BlackRock Inc. lowered its holdings in shares of Owens Corning (NYSE:OC) by 6.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,439,872 shares of the construction company’s stock after selling 412,210 shares during the period. BlackRock Inc. owned about 0.06% of Owens Corning worth $283,225,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Owens Corning by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,479,115 shares of the construction company’s stock valued at $514,432,000 after purchasing an additional 58,689 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of Owens Corning by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 9,479,115 shares of the construction company’s stock valued at $514,432,000 after purchasing an additional 58,689 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Owens Corning by 13.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,121,717 shares of the construction company’s stock valued at $137,293,000 after purchasing an additional 362,922 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Owens Corning by 2.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,071,643 shares of the construction company’s stock valued at $166,706,000 after purchasing an additional 80,675 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Owens Corning by 5,667.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,135,185 shares of the construction company’s stock valued at $49,000 after purchasing an additional 2,098,162 shares in the last quarter. Institutional investors own 93.58% of the company’s stock.
A number of research analysts recently issued reports on OC shares. Zacks Investment Research cut Owens Corning from a “hold” rating to a “sell” rating in a report on Monday, January 28th. Northcoast Research lifted their price target on Owens Corning to $64.00 and gave the company a “buy” rating in a report on Tuesday, November 27th. Buckingham Research started coverage on Owens Corning in a report on Friday, February 1st. They issued a “neutral” rating and a $54.00 price target for the company. Citigroup set a $53.00 price target on Owens Corning and gave the company a “hold” rating in a report on Tuesday, February 26th. Finally, TheStreet raised Owens Corning from a “c+” rating to a “b-” rating in a report on Thursday, February 14th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $69.12.
In other Owens Corning news, VP Daniel T. Smith sold 18,681 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $50.75, for a total transaction of $948,060.75. Following the completion of the sale, the vice president now directly owns 74,891 shares of the company’s stock, valued at approximately $3,800,718.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.
Shares of NYSE:OC opened at $47.00 on Friday. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.95 and a beta of 1.20. Owens Corning has a 1-year low of $40.64 and a 1-year high of $83.99. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.58 and a quick ratio of 0.74.
Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, February 20th. The construction company reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.09. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Owens Corning had a return on equity of 12.92% and a net margin of 7.72%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.11 EPS. As a group, sell-side analysts expect that Owens Corning will post 5.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Friday, March 8th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, March 7th. This represents a $0.88 annualized dividend and a yield of 1.87%. Owens Corning’s dividend payout ratio is currently 17.81%.
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Owens Corning Company Profile
Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.
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