JPMorgan Chase & Co. Sells 7,932 Shares of Owens Corning (NYSE:OC)

JPMorgan Chase & Co. lessened its stake in Owens Corning (NYSE:OC) by 1.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 789,811 shares of the construction company’s stock after selling 7,932 shares during the quarter. JPMorgan Chase & Co.’s holdings in Owens Corning were worth $134,521,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in OC. FPC Investment Advisory Inc. bought a new stake in Owens Corning in the 4th quarter valued at $28,000. Venturi Wealth Management LLC boosted its position in shares of Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after buying an additional 63 shares during the period. Global Trust Asset Management LLC bought a new position in shares of Owens Corning during the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB raised its position in Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after buying an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Owens Corning in the 4th quarter valued at approximately $34,000. Institutional investors own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on OC. Royal Bank of Canada reiterated an “outperform” rating and issued a $212.00 price objective on shares of Owens Corning in a report on Monday, March 17th. JPMorgan Chase & Co. reduced their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Wells Fargo & Company lowered their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Loop Capital reduced their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, UBS Group lowered their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.42.

Owens Corning Trading Up 0.8 %

Shares of Owens Corning stock opened at $144.03 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 business has a fifty day simple moving average of $162.96 and a two-hundred day simple moving average of $176.11. Owens Corning has a 1 year low of $137.50 and a 1 year high of $214.53. The company has a market capitalization of $12.32 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.21 EPS. Research analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.92%. Owens Corning’s payout ratio is currently 37.70%.

About Owens Corning

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.