William Blair Investment Management LLC Reduces Stake in Owens Corning (NYSE:OC)

William Blair Investment Management LLC reduced its stake in Owens Corning (NYSE:OC) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 182,804 shares of the construction company’s stock after selling 539 shares during the quarter. William Blair Investment Management LLC’s holdings in Owens Corning were worth $31,135,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in OC. FPC Investment Advisory Inc. purchased a new position in shares of Owens Corning during the 4th quarter worth $28,000. Venturi Wealth Management LLC grew its holdings in shares of Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new position in shares of Owens Corning during the 4th quarter worth $31,000. Wilmington Savings Fund Society FSB grew its holdings in shares of Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after purchasing an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new position in shares of Owens Corning during the 4th quarter worth $34,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Price Performance

OC stock opened at $144.89 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The firm has a market capitalization of $12.39 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.88 and a beta of 1.52. The business’s 50-day moving average is $168.97 and its two-hundred day moving average is $177.11. Owens Corning has a 1 year low of $137.50 and a 1 year high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.21 EPS. Analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio is currently 37.70%.

Insider Buying and Selling at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

OC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $212.00 price target on shares of Owens Corning in a report on Monday. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Barclays decreased their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Citigroup decreased their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.18.

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.