Swedbank AB Sells 14,605 Shares of Owens Corning (NYSE:OC)

Swedbank AB lowered its holdings in Owens Corning (NYSE:OC) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 318,841 shares of the construction company’s stock after selling 14,605 shares during the period. Swedbank AB’s holdings in Owens Corning were worth $54,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. R Squared Ltd bought a new position in shares of Owens Corning in the 4th quarter valued at about $158,000. KBC Group NV grew its position in shares of Owens Corning by 97.3% in the 4th quarter. KBC Group NV now owns 362,416 shares of the construction company’s stock valued at $61,727,000 after acquiring an additional 178,710 shares during the period. Blue Trust Inc. grew its position in shares of Owens Corning by 88.8% in the 4th quarter. Blue Trust Inc. now owns 2,073 shares of the construction company’s stock valued at $366,000 after acquiring an additional 975 shares during the period. First Citizens Bank & Trust Co. grew its position in shares of Owens Corning by 11.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 1,369 shares of the construction company’s stock valued at $233,000 after acquiring an additional 145 shares during the period. Finally, Impact Partnership Wealth LLC bought a new position in shares of Owens Corning in the 4th quarter valued at about $314,000. Institutional investors own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.89% of the stock is currently owned by insiders.

Owens Corning Price Performance

Shares of NYSE:OC opened at $187.22 on Thursday. The firm has a 50 day moving average of $185.09 and a 200-day moving average of $178.40. The stock has a market capitalization of $16.06 billion, a PE ratio of 15.93, a PEG ratio of 2.05 and a beta of 1.46. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company earned $4.15 EPS. On average, equities research analysts predict that Owens Corning will post 15.47 EPS for the current fiscal year.

Owens Corning Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were issued a dividend of $0.69 per share. The ex-dividend date was Monday, January 6th. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a dividend yield of 1.47%. Owens Corning’s payout ratio is 23.49%.

Analyst Upgrades and Downgrades

Several analysts recently commented on OC shares. The Goldman Sachs Group lifted their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $195.00 to $225.00 in a report on Tuesday, December 17th. Royal Bank of Canada lifted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Loop Capital dropped their price objective 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, January 10th. Finally, UBS Group lifted their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and a consensus price target 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.