Owens Corning (NYSE:OC) Stock Holdings Decreased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its position in Owens Corning (NYSE:OC) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,681 shares of the construction company’s stock after selling 6,019 shares during the period. Nisa Investment Advisors LLC owned about 0.05% of Owens Corning worth $6,920,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new stake in shares of Owens Corning during the fourth quarter worth approximately $27,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Owens Corning during the fourth quarter worth approximately $27,000. Financial Management Professionals Inc. acquired a new stake in shares of Owens Corning during the third quarter worth approximately $29,000. First Capital Advisors Group LLC. acquired a new stake in shares of Owens Corning during the second quarter worth approximately $31,000. Finally, IFP Advisors Inc boosted its holdings in shares of Owens Corning by 78.1% during the second quarter. IFP Advisors Inc now owns 244 shares of the construction company’s stock worth $32,000 after purchasing an additional 107 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Royal Bank of Canada decreased their price target on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. The Goldman Sachs Group raised their price target on shares of Owens Corning from $130.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, December 14th. UBS Group reduced their target price on shares of Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Evercore ISI cut shares of Owens Corning from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $163.00 to $154.00 in a research note on Thursday, February 15th. Finally, Citigroup lifted their target price on shares of Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $162.14.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $165.84 on Thursday. The firm has a fifty day simple moving average of $156.51 and a 200-day simple moving average of $143.87. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. Owens Corning has a 1-year low of $96.43 and a 1-year high of $173.65. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.48 and a beta of 1.47.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, February 14th. The construction company reported $3.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.39. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the company earned $2.49 earnings per share. Owens Corning’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts expect that Owens Corning will post 13.77 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is currently 18.29%.

Insider Buying and Selling

In related news, insider Gunner Smith sold 7,442 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the transaction, the insider now owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Gunner Smith sold 7,442 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $148.99, for a total transaction of $1,108,783.58. Following the transaction, the insider now owns 36,140 shares of the company’s stock, valued at $5,384,498.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the sale, the executive vice president now directly owns 20,419 shares in the company, valued at approximately $3,307,878. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,672 shares of company stock valued at $3,325,799. 0.90% of the stock is owned by company insiders.

Owens Corning Company 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.