Achmea Investment Management B.V. Has $17.08 Million Position in Owens Corning (NYSE:OC)

Achmea Investment Management B.V. lessened its stake in shares of Owens Corning (NYSE:OC) by 5.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 100,288 shares of the construction company’s stock after selling 6,063 shares during the period. Achmea Investment Management B.V.’s holdings in Owens Corning were worth $17,081,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Truist Financial Corp increased its stake in Owens Corning by 4.0% during the 4th quarter. Truist Financial Corp now owns 16,038 shares of the construction company’s stock worth $2,732,000 after acquiring an additional 624 shares during the period. Alpha DNA Investment Management LLC increased its stake in Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after acquiring an additional 2,544 shares during the period. Janus Henderson Group PLC increased its stake in Owens Corning by 3.1% during the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock worth $1,189,000 after acquiring an additional 200 shares during the period. Penserra Capital Management LLC increased its stake in Owens Corning by 53.3% during the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock worth $832,000 after acquiring an additional 1,643 shares during the period. Finally, Atria Investments Inc increased its stake in Owens Corning by 93.3% during the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after acquiring an additional 6,373 shares during the period. Institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Loop Capital decreased their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. UBS Group decreased their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Royal Bank of Canada decreased their price target on Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Finally, Wells Fargo & Company decreased their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Owens Corning Trading Up 2.3 %

Shares of OC stock opened at $142.67 on Thursday. The firm has a market capitalization of $12.20 billion, a P/E ratio of 12.14, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a twelve month low of $137.50 and a twelve month high of $214.53. 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 simple moving average is $171.15 and its 200 day simple moving average is $177.74.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share 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 analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.21 EPS. As a group, sell-side analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently announced 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. This represents a $2.76 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is presently 37.70%.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated 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 of the company’s stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

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.