Envestnet Portfolio Solutions Inc. Grows Stock Holdings in Owens Corning (NYSE:OC)

Envestnet Portfolio Solutions Inc. raised its position in shares of Owens Corning (NYSE:OC) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,251 shares of the construction company’s stock after buying an additional 124 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Owens Corning were worth $1,576,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp increased its holdings in Owens Corning by 4.7% during the third quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock valued at $738,104,000 after buying an additional 187,001 shares during the period. Nordea Investment Management AB raised its stake in shares of Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after buying an additional 238,694 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Owens Corning by 31.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock valued at $145,455,000 after purchasing an additional 197,667 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Owens Corning by 113.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after buying an additional 424,786 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Owens Corning by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,275 shares of the construction company’s stock worth $128,379,000 after purchasing an additional 24,522 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Trading Down 1.8 %

Shares of OC stock opened at $144.49 on Friday. The stock has a market cap of $12.36 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.88 and a beta of 1.52. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a fifty-two week low of $137.50 and a fifty-two week high of $214.53. The business has a fifty day simple moving average of $167.56 and a 200-day simple moving average of $176.53.

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

Owens Corning Dividend Announcement

The firm also recently announced 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 dividend yield of 1.91%. The ex-dividend date is Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays lowered their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Wells Fargo & Company reduced their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. UBS Group cut their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Finally, Loop Capital cut their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average price target of $204.18.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.89% of the company’s stock.

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.