TT International Asset Management LTD Has $1.03 Million Holdings in Owens Corning (NYSE:OC)

TT International Asset Management LTD cut its holdings in Owens Corning (NYSE:OC) by 48.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,039 shares of the construction company’s stock after selling 5,565 shares during the quarter. TT International Asset Management LTD’s holdings in Owens Corning were worth $1,028,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. grew its holdings in Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after buying an additional 464,981 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Owens Corning by 38.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after acquiring an additional 446,073 shares during the period. JPMorgan Chase & Co. lifted its holdings in Owens Corning by 113.9% during the 3rd 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. Goldentree Asset Management LP purchased a new stake in Owens Corning during the 3rd quarter worth about $43,559,000. Finally, Nordea Investment Management AB raised its holdings in shares of Owens Corning by 12.5% in the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock valued at $366,166,000 after acquiring an additional 238,694 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Price Performance

OC stock opened at $167.36 on Monday. Owens Corning has a one year low of $138.70 and a one year high of $214.53. The company’s fifty day moving average price is $186.88 and its 200-day moving average price is $177.17. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company has a market capitalization of $14.36 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 2.14 and a beta of 1.46.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.05 by $0.33. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.15 EPS. On average, equities analysts anticipate that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $2.76 annualized dividend and a yield of 1.65%. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s payout ratio is presently 23.49%.

Analyst Upgrades and Downgrades

OC has been the topic of several recent analyst reports. Loop Capital lowered their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $195.00 to $225.00 in a research report on Tuesday, December 17th. Royal Bank of Canada raised their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Citigroup reduced their price target 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, The Goldman Sachs Group raised their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $201.75.

Insiders Place Their Bets

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were 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. This represents a 48.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.89% of the company’s stock.

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.