Bleakley Financial Group LLC Sells 711 Shares of Owens Corning (NYSE:OC)

Bleakley Financial Group LLC trimmed its position in Owens Corning (NYSE:OC) by 32.4% during the 4th quarter, HoldingsChannel reports. The firm owned 1,483 shares of the construction company’s stock after selling 711 shares during the quarter. Bleakley Financial Group LLC’s holdings in Owens Corning were worth $220,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in OC. Vanguard Personalized Indexing Management LLC grew its position in Owens Corning by 97.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 22,798 shares of the construction company’s stock worth $3,110,000 after acquiring an additional 11,241 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in Owens Corning in the fourth quarter worth about $27,000. New York Life Investment Management LLC grew its position in Owens Corning by 101.7% in the third quarter. New York Life Investment Management LLC now owns 9,969 shares of the construction company’s stock worth $1,360,000 after acquiring an additional 5,026 shares in the last quarter. Cambria Investment Management L.P. grew its position in Owens Corning by 7.5% in the third quarter. Cambria Investment Management L.P. now owns 84,448 shares of the construction company’s stock worth $11,520,000 after acquiring an additional 5,877 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of Owens Corning during the third quarter valued at approximately $1,186,000. 88.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OC has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 20th. Citigroup boosted their target price on Owens Corning from $150.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. UBS Group dropped their target price on Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Evercore ISI lowered Owens Corning from an “outperform” rating to an “in-line” rating and dropped their target price for the company from $163.00 to $154.00 in a research report on Thursday, February 15th. Finally, Barclays lowered Owens Corning from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $170.00 to $160.00 in a research report on Monday, February 12th. Eight equities research 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’s stock. According to data from MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and a consensus target price of $162.14.

Owens Corning Stock Down 0.2 %

Shares of NYSE OC opened at $163.54 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.69. The firm has a market capitalization of $14.23 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.29 and a beta of 1.47. The stock has a 50 day moving average price of $157.35 and a 200 day moving average price of $144.72. Owens Corning has a 52-week low of $98.00 and a 52-week high of $173.65.

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

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Monday, March 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is 18.29%.

Insider Buying and Selling

In related news, CEO Brian Chambers sold 9,100 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value of $1,397,487.00. Following the completion of the transaction, the chief executive officer now owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the transaction, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the transaction, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The disclosure for this sale can be found here. Insiders sold 21,672 shares of company stock valued at $3,325,799 over the last 90 days. Corporate insiders own 0.90% 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.