Charles Schwab Investment Management Inc. Sells 1,455 Shares of Owens Corning (NYSE:OC)

Charles Schwab Investment Management Inc. cut its position in Owens Corning (NYSE:OCFree Report) by 0.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 591,021 shares of the construction company’s stock after selling 1,455 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Owens Corning were worth $80,621,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Trust Co. NA lifted its holdings in Owens Corning by 20.5% during the 2nd quarter. Private Trust Co. NA now owns 982 shares of the construction company’s stock valued at $128,000 after purchasing an additional 167 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in Owens Corning by 101.7% during the 3rd quarter. New York Life Investment Management LLC now owns 9,969 shares of the construction company’s stock valued at $1,360,000 after purchasing an additional 5,026 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in Owens Corning by 0.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 41,121 shares of the construction company’s stock valued at $5,366,000 after purchasing an additional 340 shares during the last quarter. Creative Planning lifted its holdings in Owens Corning by 10.2% during the 2nd quarter. Creative Planning now owns 6,768 shares of the construction company’s stock valued at $883,000 after purchasing an additional 627 shares during the last quarter. Finally, Accurate Wealth Management LLC lifted its holdings in Owens Corning by 30.7% during the 3rd quarter. Accurate Wealth Management LLC now owns 4,109 shares of the construction company’s stock valued at $528,000 after purchasing an additional 964 shares during the last quarter. 90.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OC shares. Wells Fargo & Company started coverage on Owens Corning in a report on Tuesday, October 17th. They set an “equal weight” rating and a $143.00 target price for the company. Barclays downgraded Owens Corning from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $170.00 to $160.00 in a report on Monday. Royal Bank of Canada dropped their target price on Owens Corning from $168.00 to $155.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Deutsche Bank Aktiengesellschaft raised Owens Corning from a “hold” rating to a “buy” rating and lifted their target price for the stock from $130.00 to $180.00 in a report on Friday, December 8th. Finally, The Goldman Sachs Group lifted their target price on Owens Corning from $130.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, December 14th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and an average target price of $144.80.

Get Our Latest Research Report on Owens Corning

Owens Corning Stock Performance

Owens Corning stock opened at $149.18 on Tuesday. Owens Corning has a 12-month low of $88.86 and a 12-month high of $160.18. The company has a quick ratio of 1.49, a current ratio of 2.16 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $149.15 and its two-hundred day moving average price is $138.88. The stock has a market cap of $13.26 billion, a PE ratio of 11.49, a P/E/G ratio of 1.83 and a beta of 1.47.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Monday, March 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, March 1st. Owens Corning’s dividend payout ratio is presently 18.49%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 708 shares of Owens Corning stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $153.73, for a total value of $108,840.84. Following the transaction, the insider now owns 39,994 shares in the company, valued at $6,148,277.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Owens Corning news, insider Gunner Smith sold 708 shares of Owens Corning stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $153.73, for a total value of $108,840.84. Following the transaction, the insider now owns 39,994 shares in the company, valued at $6,148,277.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Chambers sold 9,100 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $153.57, for a total value of $1,397,487.00. Following the sale, the chief executive officer now owns 269,696 shares in the company, valued at $41,417,214.72. The disclosure for this sale can be found here. Insiders have sold a total of 10,465 shares of company stock worth $1,607,085 over the last 90 days. Insiders own 0.89% of the company’s stock.

About Owens Corning

(Free Report)

Owens Corning engages in manufacture and sale of insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, Latin America, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products.

See Also

Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning (NYSE:OCFree Report).

Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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