Owens Corning (NYSE:OC) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its holdings in shares of Owens Corning (NYSE:OC) by 14.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,288 shares of the construction company’s stock after selling 11,374 shares during the period. Voya Investment Management LLC owned 0.08% of Owens Corning worth $11,631,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Nordea Investment Management AB increased its position in shares of Owens Corning by 12.5% during the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after purchasing an additional 238,694 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Owens Corning by 41.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company’s stock worth $242,337,000 after purchasing an additional 414,770 shares in the last quarter. Norges Bank acquired a new position in shares of Owens Corning during the fourth quarter worth $208,519,000. JPMorgan Chase & Co. increased its position in shares of Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after purchasing an additional 424,786 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Owens Corning by 20.7% during the fourth quarter. First Trust Advisors LP now owns 744,771 shares of the construction company’s stock worth $126,849,000 after purchasing an additional 127,785 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Price Performance

Shares of OC opened at $144.02 on Tuesday. The business’s 50-day moving average is $143.95 and its two-hundred day moving average is $170.60. The company has a market capitalization of $12.32 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.88 and a beta of 1.39. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a fifty-two week low of $123.41 and a fifty-two week high of $214.53.

Owens Corning (NYSE:OC) last posted its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm earned $3.21 EPS. Research analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Insider Activity

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 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 in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

OC has been the topic of several research reports. UBS Group cut their target price on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Owens Corning in a research report on Tuesday, April 1st. They issued a “buy” rating and a $183.00 target price on the stock. Wells Fargo & Company cut their target price on Owens Corning from $200.00 to $155.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Citigroup cut their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and an average price target of $195.73.

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.