Grantham Mayo Van Otterloo & Co. LLC Sells 5,933 Shares of Owens Corning Inc $OC

Grantham Mayo Van Otterloo & Co. LLC lowered its position in Owens Corning Inc (NYSE:OC) by 13.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,913 shares of the construction company’s stock after selling 5,933 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Owens Corning were worth $5,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of OC. Ariel Investments LLC lifted its stake in shares of Owens Corning by 24.8% during the 2nd quarter. Ariel Investments LLC now owns 140,449 shares of the construction company’s stock worth $19,315,000 after acquiring an additional 27,871 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its position in Owens Corning by 231.4% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 48,843 shares of the construction company’s stock valued at $6,909,000 after acquiring an additional 34,106 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Owens Corning by 6.7% in the second quarter. JPMorgan Chase & Co. now owns 456,952 shares of the construction company’s stock worth $62,840,000 after purchasing an additional 28,814 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Owens Corning by 6.1% in the second quarter. Nomura Asset Management Co. Ltd. now owns 42,020 shares of the construction company’s stock worth $5,779,000 after purchasing an additional 2,421 shares during the period. Finally, Caprock Group LLC bought a new stake in shares of Owens Corning during the third quarter worth $1,742,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 2.0%

NYSE:OC opened at $107.54 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.70. Owens Corning Inc has a 1-year low of $97.53 and a 1-year high of $159.42. The company has a 50-day moving average of $123.44 and a 200 day moving average of $125.78. The firm has a market cap of $8.64 billion, a PE ratio of -16.80, a price-to-earnings-growth ratio of 1.78 and a beta of 1.35.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, February 25th. The construction company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.26). Owens Corning had a negative net margin of 5.17% and a positive return on equity of 21.93%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period last year, the business posted $3.22 EPS. The company’s revenue for the quarter was down 16.8% on a year-over-year basis. As a group, research analysts anticipate that Owens Corning Inc will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 9th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, March 9th. Owens Corning’s dividend payout ratio (DPR) is presently -49.38%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Evercore cut their price target on shares of Owens Corning from $121.00 to $117.00 and set an “in-line” rating on the stock in a report on Thursday, December 4th. Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. JPMorgan Chase & Co. reduced their target price on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Finally, UBS Group lifted their price target on shares of Owens Corning from $160.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $151.58.

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.