Owens Corning (OC) Stake Lowered by Clearbridge LLC

Clearbridge LLC lessened its holdings in Owens Corning (NYSE:OC) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,264 shares of the construction company’s stock after selling 436 shares during the period. Clearbridge LLC’s holdings in Owens Corning were worth $2,782,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Trust Co. of Vermont purchased a new stake in shares of Owens Corning during the fourth quarter worth $40,000. Reilly Financial Advisors LLC purchased a new stake in shares of Owens Corning during the fourth quarter worth $48,000. Oregon Public Employees Retirement Fund raised its holdings in shares of Owens Corning by 5,667.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,135,185 shares of the construction company’s stock worth $49,000 after acquiring an additional 2,098,162 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Owens Corning by 32.7% during the fourth quarter. IFP Advisors Inc now owns 1,262 shares of the construction company’s stock worth $55,000 after acquiring an additional 311 shares in the last quarter. Finally, Bremer Trust National Association purchased a new stake in shares of Owens Corning during the fourth quarter worth $76,000. 93.58% of the stock is owned by institutional investors and hedge funds.

In related news, VP Daniel T. Smith sold 18,681 shares of Owens Corning stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $50.75, for a total transaction of $948,060.75. Following the sale, the vice president now directly owns 74,891 shares of the company’s stock, valued at $3,800,718.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.60% of the stock is owned by company insiders.

OC has been the subject of several recent research reports. Citigroup set a $53.00 price objective on Owens Corning and gave the stock a “hold” rating in a report on Tuesday, February 26th. Zacks Investment Research lowered Owens Corning from a “hold” rating to a “sell” rating in a report on Monday, January 28th. Barclays set a $58.00 price objective on Owens Corning and gave the stock a “buy” rating in a report on Tuesday, February 5th. TheStreet upgraded Owens Corning from a “c+” rating to a “b-” rating in a report on Thursday, February 14th. Finally, Zelman & Associates lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. Owens Corning presently has a consensus rating of “Hold” and a consensus price target of $69.12.

NYSE OC opened at $47.00 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.74 and a current ratio of 1.58. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 9.51, a P/E/G ratio of 0.95 and a beta of 1.20. Owens Corning has a fifty-two week low of $40.64 and a fifty-two week high of $83.99.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, February 20th. The construction company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.09. Owens Corning had a return on equity of 12.92% and a net margin of 7.72%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the business earned $1.11 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts anticipate that Owens Corning will post 5.01 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Investors of record on Friday, March 8th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Thursday, March 7th. Owens Corning’s dividend payout ratio (DPR) is presently 17.81%.

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Owens Corning Profile

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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