Alliancebernstein L.P. Sells 18,749 Shares of Owens Corning (NYSE:OC)

Alliancebernstein L.P. lessened its stake in shares of Owens Corning (NYSE:OC) by 10.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,625 shares of the construction company’s stock after selling 18,749 shares during the period. Alliancebernstein L.P. owned 0.19% of Owens Corning worth $28,039,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. bought a new position in Owens Corning in the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC increased its stake in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning during the 4th quarter worth $31,000. Wilmington Savings Fund Society FSB lifted its position in shares of Owens Corning by 193.7% during the 4th 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 during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in Owens Corning in the fourth quarter valued at about $34,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on OC shares. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They issued a “buy” rating and a $183.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Barclays dropped their price target on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Citigroup reduced their price objective 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. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $202.42.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the 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 transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.

Owens Corning Price Performance

Shares of OC opened at $134.17 on Monday. The business has a 50-day moving average of $160.07 and a 200-day moving average of $175.46. 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 company has a market capitalization of $11.48 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. Owens Corning has a 1 year low of $126.15 and a 1 year high of $214.53.

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

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 2.06%. Owens Corning’s payout ratio is currently 37.70%.

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.