Daiwa Securities Group Inc. Sells 2,900 Shares of Owens Corning (NYSE:OC)

Daiwa Securities Group Inc. decreased its position in Owens Corning (NYSE:OC) by 23.3% during the 4th quarter, HoldingsChannel reports. The fund owned 9,543 shares of the construction company’s stock after selling 2,900 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Owens Corning were worth $1,414,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of OC. Lecap Asset Management Ltd. bought a new stake in shares of Owens Corning during the 4th quarter worth approximately $1,791,000. Voss Capital LLC bought a new stake in shares of Owens Corning during the 4th quarter worth approximately $5,929,000. Louisiana State Employees Retirement System bought a new stake in shares of Owens Corning during the 4th quarter worth approximately $3,706,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of Owens Corning by 97.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 22,798 shares of the construction company’s stock worth $3,110,000 after purchasing an additional 11,241 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in shares of Owens Corning during the 4th quarter worth approximately $27,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

OC opened at $167.56 on Wednesday. The firm has a market cap of $14.58 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 0.28 and a beta of 1.47. Owens Corning has a 52-week low of $98.02 and a 52-week high of $173.65. 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 business’s fifty day moving average is $158.41 and its 200-day moving average is $145.80.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, February 14th. The construction company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.39. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.25 billion. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. Owens Corning’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.49 EPS. Sell-side analysts expect that Owens Corning will post 13.92 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Monday, March 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is currently 18.29%.

Insider Transactions at Owens Corning

In related news, 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 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 sale was disclosed in a filing with the SEC, which is available through this link. In related news, 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 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $1,397,487.00. Following the sale, the chief executive officer now owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,672 shares of company stock valued at $3,325,799. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

OC has been the topic of a number of analyst reports. Barclays cut Owens Corning from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $170.00 to $160.00 in a research note on Monday, February 12th. Loop Capital boosted their target price on Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Royal Bank of Canada decreased their target price on Owens Corning from $183.00 to $175.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Citigroup boosted their target price on Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. decreased their target price on Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 20th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.14.

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.