Mitsubishi UFJ Asset Management Co. Ltd. Lowers Stock Position in Owens Corning (NYSE:OC)

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its stake in Owens Corning (NYSE:OC) by 0.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 61,684 shares of the construction company’s stock after selling 148 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Owens Corning were worth $10,618,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Owens Corning during the 4th quarter worth about $681,000. CoreFirst Bank & Trust acquired a new stake in shares of Owens Corning during the fourth quarter worth about $150,000. LPL Financial LLC grew its holdings in shares of Owens Corning by 43.9% in the fourth quarter. LPL Financial LLC now owns 76,747 shares of the construction company’s stock valued at $13,072,000 after purchasing an additional 23,427 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Owens Corning during the 4th quarter worth approximately $648,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Owens Corning during the 4th quarter worth approximately $21,093,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

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 on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on OC. UBS Group dropped their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Barclays lowered their price objective on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company cut their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Finally, Citigroup lowered their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Owens Corning Trading Up 0.1 %

Shares of Owens Corning stock opened at $142.81 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The company has a fifty day simple moving average of $163.83 and a 200-day simple moving average of $176.26. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.88 and a beta of 1.52. Owens Corning has a 12-month low of $137.50 and a 12-month high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm posted $3.21 earnings per share. Owens Corning’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, equities analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.93%. Owens Corning’s dividend payout ratio is presently 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.