Cerity Partners LLC Reduces Stock Position in Owens Corning (NYSE:OC)

Cerity Partners LLC cut its position in Owens Corning (NYSE:OC) by 21.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,066 shares of the construction company’s stock after selling 1,139 shares during the period. Cerity Partners LLC’s holdings in Owens Corning were worth $707,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of OC. Barclays PLC boosted its stake in shares of Owens Corning by 23.3% in the third quarter. Barclays PLC now owns 125,756 shares of the construction company’s stock worth $22,197,000 after buying an additional 23,787 shares during the last quarter. World Investment Advisors LLC purchased a new stake in Owens Corning in the 3rd quarter worth approximately $23,002,000. Synovus Financial Corp purchased a new stake in Owens Corning in the 3rd quarter worth approximately $337,000. Franklin Resources Inc. grew its stake in shares of Owens Corning by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 444,748 shares of the construction company’s stock worth $83,381,000 after purchasing an additional 22,500 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in shares of Owens Corning by 3.1% during the 3rd quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company’s stock valued at $34,717,000 after purchasing an additional 5,916 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Trading Up 1.0 %

Shares of Owens Corning stock opened at $137.98 on Monday. Owens Corning has a 1-year low of $123.41 and a 1-year high of $214.53. 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 stock has a market cap of $11.80 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.88 and a beta of 1.39. The stock’s 50 day simple moving average is $148.43 and its 200-day simple moving average is $172.23.

Owens Corning (NYSE:OC) last posted its quarterly 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 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%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.21 EPS. Analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Monday, March 10th. Owens Corning’s payout ratio is presently 37.70%.

Insider Activity at Owens Corning

In related 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 completion of the sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

OC has been the topic of several analyst reports. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Royal Bank of Canada reduced their target price on Owens Corning from $212.00 to $199.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Finally, Barclays decreased their target price on Owens Corning from $215.00 to $179.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $194.58.

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.