MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Reduces Position in Owens Corning (NYSE:OC)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its stake in shares of Owens Corning (NYSE:OC) by 36.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,549 shares of the construction company’s stock after selling 6,112 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Owens Corning were worth $1,789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OC. Janney Montgomery Scott LLC lifted its holdings in Owens Corning by 32.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 66,752 shares of the construction company’s stock valued at $11,369,000 after acquiring an additional 16,377 shares during the period. SG Americas Securities LLC increased its position in shares of Owens Corning by 121.9% during the 4th quarter. SG Americas Securities LLC now owns 14,602 shares of the construction company’s stock valued at $2,487,000 after purchasing an additional 8,023 shares during the last quarter. Global Trust Asset Management LLC bought a new position in shares of Owens Corning in the 4th quarter worth approximately $31,000. Nisa Investment Advisors LLC boosted its holdings in shares of Owens Corning by 103.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 24,251 shares of the construction company’s stock worth $4,130,000 after buying an additional 12,358 shares during the last quarter. Finally, Atomi Financial Group Inc. grew its position in Owens Corning by 3.9% during the fourth quarter. Atomi Financial Group Inc. now owns 6,161 shares of the construction company’s stock valued at $1,049,000 after buying an additional 233 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Loop Capital cut their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Citigroup decreased their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. UBS Group boosted their price objective on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $195.00 to $225.00 in a research note on Tuesday, December 17th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.75.

Owens Corning Stock Up 0.1 %

Shares of OC stock opened at $187.82 on Friday. The company’s fifty day simple moving average is $185.49 and its two-hundred day simple moving average is $177.82. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53. The stock has a market cap of $16.11 billion, a P/E ratio of 15.98, a PEG ratio of 2.05 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the business earned $4.15 earnings per share. Analysts predict that Owens Corning will post 15.47 EPS for the current fiscal year.

Owens Corning Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.47%. The ex-dividend date was Monday, January 6th. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s payout ratio is currently 23.49%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.89% of the stock is owned by insiders.

Owens Corning Company 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.