William Blair Investment Management LLC Reduces Holdings in Owens Corning (NYSE:OC)

William Blair Investment Management LLC decreased its holdings in shares of Owens Corning (NYSE:OC) by 0.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 182,804 shares of the construction company’s stock after selling 539 shares during the period. William Blair Investment Management LLC owned approximately 0.21% of Owens Corning worth $31,135,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. State Street Corp boosted its position in Owens Corning by 4.7% in the third quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock valued at $738,104,000 after buying an additional 187,001 shares during the last quarter. Nordea Investment Management AB boosted its position in Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock valued at $366,166,000 after buying an additional 238,694 shares during the last quarter. Pacer Advisors Inc. boosted its position in Owens Corning by 16.4% in the third 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 last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Owens Corning by 31.6% in the third 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 last quarter. Finally, JPMorgan Chase & Co. boosted its position in Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after buying an additional 424,786 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Trading Down 0.1 %

Shares of OC stock opened at $144.89 on Wednesday. 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 company has a market cap of $12.39 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.88 and a beta of 1.52. The stock has a 50 day simple moving average of $168.97 and a 200-day simple moving average of $177.11. Owens Corning has a 1-year low of $137.50 and a 1-year high of $214.53.

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

Owens Corning Announces Dividend

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 given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on OC. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Loop Capital decreased their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $212.00 price target on shares of Owens Corning in a report on Monday. Citigroup decreased their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. decreased their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $204.18.

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.