Tredje AP fonden Sells 4,807 Shares of Owens Corning Inc $OC

Tredje AP fonden trimmed its stake in shares of Owens Corning Inc (NYSE:OC) by 31.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,292 shares of the construction company’s stock after selling 4,807 shares during the quarter. Tredje AP fonden’s holdings in Owens Corning were worth $1,456,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. boosted its stake in Owens Corning by 61.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company’s stock valued at $69,000 after buying an additional 184 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Owens Corning during the second quarter valued at $277,000. First Citizens Bank & Trust Co. acquired a new stake in shares of Owens Corning in the 2nd quarter valued at $647,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Owens Corning by 4.5% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 196,163 shares of the construction company’s stock valued at $26,976,000 after purchasing an additional 8,435 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its holdings in shares of Owens Corning by 120.5% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 3,087 shares of the construction company’s stock worth $425,000 after purchasing an additional 1,687 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OC has been the topic of a number of recent analyst reports. Zacks Research raised Owens Corning from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Barclays lifted their price target on Owens Corning from $130.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, January 15th. UBS Group decreased their price objective on shares of Owens Corning from $179.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. Finally, Citigroup dropped their target price on shares of Owens Corning from $137.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $150.58.

Owens Corning Stock Performance

Shares of NYSE:OC opened at $132.74 on Monday. The firm’s 50 day simple moving average is $122.50 and its 200 day simple moving average is $128.16. Owens Corning Inc has a fifty-two week low of $97.53 and a fifty-two week high of $173.63. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of -23.21, a P/E/G ratio of 2.78 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 0.86.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 9th will be issued a $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 annualized dividend and a dividend yield of 2.4%. Owens Corning’s dividend payout ratio (DPR) is presently -55.24%.

Owens Corning Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.