TT International Asset Management LTD Sells 5,565 Shares of Owens Corning (NYSE:OC)

TT International Asset Management LTD decreased its position in Owens Corning (NYSE:OC) by 48.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,039 shares of the construction company’s stock after selling 5,565 shares during the quarter. TT International Asset Management LTD’s holdings in Owens Corning were worth $1,028,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OC. Alpha DNA Investment Management LLC grew its holdings in Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after acquiring an additional 2,544 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of Owens Corning by 53.3% in the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after acquiring an additional 1,643 shares during the period. Janus Henderson Group PLC raised its position in shares of Owens Corning by 3.1% in the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock valued at $1,189,000 after acquiring an additional 200 shares during the period. Atria Investments Inc raised its position in shares of Owens Corning by 93.3% in the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock valued at $2,330,000 after acquiring an additional 6,373 shares during the period. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Owens Corning in the 3rd quarter valued at approximately $1,046,000. Institutional investors own 88.40% of the company’s stock.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.89% of the company’s stock.

Owens Corning Trading Down 2.5 %

Shares of Owens Corning stock opened at $167.36 on Monday. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53. 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 capitalization of $14.36 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 2.14 and a beta of 1.46. The business has a fifty day simple moving average of $186.88 and a two-hundred day simple moving average of $177.17.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the business posted $4.15 earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. Research analysts forecast that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be issued a dividend of $0.69 per share. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Monday, January 6th. Owens Corning’s payout ratio is 23.49%.

Wall Street Analysts Forecast Growth

OC has been the topic of several research analyst reports. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $195.00 to $225.00 in a research note on Tuesday, December 17th. UBS Group raised their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Loop Capital decreased their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday. Finally, StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.75.

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.