Wakefield Asset Management LLLP Sells 918 Shares of Owens Corning (NYSE:OC)

Wakefield Asset Management LLLP lessened its stake in Owens Corning (NYSE:OC) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,563 shares of the construction company’s stock after selling 918 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Owens Corning were worth $3,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning in the fourth quarter worth approximately $28,000. Venturi Wealth Management LLC grew its stake in shares of Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after acquiring an additional 63 shares during the period. Global Trust Asset Management LLC bought a new stake in shares of Owens Corning during the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB lifted its position in shares of Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Down 1.6 %

Shares of NYSE:OC opened at $151.86 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a 52-week low of $148.62 and a 52-week high of $214.53. The stock has a market cap of $13.03 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.88 and a beta of 1.46. The business has a 50-day moving average price of $175.72 and a 200-day moving average price of $178.65.

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

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.82%. Owens Corning’s payout ratio is currently 23.49%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OC. Loop Capital decreased their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Evercore ISI increased their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada cut their price target on Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.00.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gunner Smith sold 17,450 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

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.