Guinness Atkinson Asset Management Inc Sells 771 Shares of Owens Corning (NYSE:OC)

Guinness Atkinson Asset Management Inc decreased its holdings in shares of Owens Corning (NYSE:OC) by 13.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,019 shares of the construction company’s stock after selling 771 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Owens Corning were worth $855,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Point72 Asset Management L.P. boosted its stake in Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after acquiring an additional 464,981 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after purchasing an additional 424,786 shares during the period. Pacer Advisors Inc. boosted its position in shares of Owens Corning by 16.4% during the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after purchasing an additional 261,564 shares in the last quarter. Goldentree Asset Management LP acquired a new stake in shares of Owens Corning in the 3rd quarter valued at about $43,559,000. Finally, Nordea Investment Management AB increased its position in Owens Corning by 12.5% in the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock valued at $366,166,000 after buying an additional 238,694 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is owned by company insiders.

Owens Corning Trading Up 2.0 %

NYSE:OC opened at $182.86 on Monday. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53. The firm has a 50-day moving average price of $186.08 and a two-hundred day moving average price of $177.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market cap of $15.69 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.84 and a beta of 1.46.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 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 company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the business posted $4.15 earnings per share. Owens Corning’s revenue was up 22.9% on a year-over-year basis. On average, equities analysts expect that Owens Corning will post 15.46 earnings per share 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 $0.69 dividend. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Monday, January 6th. Owens Corning’s payout ratio is 23.49%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OC shares. The Goldman Sachs Group increased their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Citigroup cut their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. UBS Group lifted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Loop Capital lowered their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Royal Bank of Canada lifted their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and an average price target of $201.75.

Owens Corning 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.