Jefferies Group LLC trimmed its stake in shares of Owens Corning (NYSE:OC) by 71.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,195 shares of the construction company’s stock after selling 17,603 shares during the quarter. Jefferies Group LLC’s holdings in Owens Corning were worth $662,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dana Investment Advisors Inc. grew its stake in Owens Corning by 4.9% during the 3rd quarter. Dana Investment Advisors Inc. now owns 496,736 shares of the construction company’s stock worth $38,423,000 after purchasing an additional 23,180 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Owens Corning by 636.1% during the 3rd quarter. Great West Life Assurance Co. Can now owns 83,956 shares of the construction company’s stock worth $6,476,000 after purchasing an additional 72,551 shares in the last quarter. California Public Employees Retirement System grew its stake in Owens Corning by 12.3% during the 4th quarter. California Public Employees Retirement System now owns 316,261 shares of the construction company’s stock worth $29,077,000 after purchasing an additional 34,566 shares in the last quarter. Swiss National Bank grew its stake in Owens Corning by 118.8% during the 4th quarter. Swiss National Bank now owns 410,200 shares of the construction company’s stock worth $37,714,000 after purchasing an additional 222,700 shares in the last quarter. Finally, Lakeview Capital Partners LLC acquired a new position in Owens Corning during the 4th quarter worth $203,000. 92.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Owens Corning (OC) opened at $79.63 on Tuesday. Owens Corning has a fifty-two week low of $59.26 and a fifty-two week high of $96.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.55 and a quick ratio of 0.89. The firm has a market capitalization of $9,052.66, a PE ratio of 31.23, a PEG ratio of 0.80 and a beta of 1.08.
Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, February 21st. The construction company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.07. Owens Corning had a return on equity of 12.26% and a net margin of 4.53%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the business earned $0.72 EPS. The business’s quarterly revenue was up 16.1% on a year-over-year basis. analysts anticipate that Owens Corning will post 5.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, March 8th. Owens Corning’s payout ratio is currently 32.94%.
OC has been the subject of several analyst reports. Zacks Investment Research raised Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Saturday, January 6th. MKM Partners boosted their target price on Owens Corning to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Royal Bank of Canada raised Owens Corning from an “outperform” rating to a “top pick” rating in a research note on Monday, December 4th. KeyCorp reaffirmed a “buy” rating and set a $115.00 price target on shares of Owens Corning in a report on Friday, January 12th. Finally, SunTrust Banks lifted their price target on Owens Corning to $85.00 and gave the stock a “hold” rating in a report on Tuesday, November 21st. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $87.95.
In other news, insider Arnaud Genis sold 59,541 shares of the business’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $81.32, for a total value of $4,841,874.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ava Harter sold 1,100 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $84.00, for a total value of $92,400.00. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.
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About Owens Corning
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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