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

Cerity Partners LLC decreased its stake in Owens Corning (NYSE:OC) by 21.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,066 shares of the construction company’s stock after selling 1,139 shares during the quarter. Cerity Partners LLC’s holdings in Owens Corning were worth $707,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. FPC Investment Advisory Inc. bought a new stake in Owens Corning during the 4th quarter valued at approximately $28,000. Venturi Wealth Management LLC grew its holdings in Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after buying an additional 63 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Owens Corning during the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after buying an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in shares of Owens Corning during the fourth quarter worth $34,000. Institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.82% of the company’s stock.

Owens Corning Trading Up 1.0 %

OC opened at $137.98 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock’s fifty day moving average is $148.43 and its two-hundred day moving average is $172.23. The company has a market capitalization of $11.80 billion, a P/E ratio of 11.74, a PEG ratio of 1.88 and a beta of 1.39. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.21 EPS. Analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 10th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 2.00%. Owens Corning’s dividend payout ratio is currently 37.70%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OC. Barclays lowered their target price on Owens Corning from $215.00 to $179.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Loop Capital reduced their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Citigroup lowered their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.58.

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.