Owens Corning (NYSE:OC) Shares Sold by Empowered Funds LLC

Empowered Funds LLC trimmed its holdings in Owens Corning (NYSE:OC) by 81.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,204 shares of the construction company’s stock after selling 150,697 shares during the period. Empowered Funds LLC’s holdings in Owens Corning were worth $5,996,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OC. State Street Corp boosted its position in shares of Owens Corning by 4.7% in the third quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock worth $738,104,000 after acquiring an additional 187,001 shares during the last quarter. Nordea Investment Management AB raised its stake in Owens Corning by 12.5% during the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after purchasing an additional 238,694 shares during the period. Pacer Advisors Inc. grew its stake in shares of Owens Corning by 16.4% during the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after buying an additional 261,564 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Owens Corning by 31.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock valued at $145,455,000 after buying an additional 197,667 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Owens Corning by 113.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after buying an additional 424,786 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

NYSE:OC opened at $179.95 on Tuesday. Owens Corning has a 1-year low of $138.70 and a 1-year high of $214.53. The stock has a market cap of $15.44 billion, a P/E ratio of 15.31, a PEG ratio of 2.01 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The firm has a 50-day moving average of $181.58 and a two-hundred day moving average of $178.80.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. 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 1.53%. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OC shares. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $192.00 to $245.00 in a research report on Wednesday, December 11th. Royal Bank of Canada increased their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Loop Capital reduced their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Citigroup dropped their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.75.

Insiders Place Their Bets

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 18,866 shares in the company, valued at $3,606,990.54. The trade was a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Owens Corning Company 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.