Cibc World Markets Corp Sells 1,115 Shares of Owens Corning (NYSE:OC)

Cibc World Markets Corp lowered its position in Owens Corning (NYSE:OC) by 22.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,935 shares of the construction company’s stock after selling 1,115 shares during the period. Cibc World Markets Corp’s holdings in Owens Corning were worth $670,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new position in shares of Owens Corning in the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC grew 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 worth $30,000 after buying an additional 63 shares during the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Owens Corning in the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB grew its stake in shares of Owens Corning by 193.7% in 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 purchased a new stake in shares of Owens Corning in the 4th quarter worth approximately $34,000. Institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

OC has been the topic of several recent research reports. UBS Group cut 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 restated an “outperform” rating and issued a $212.00 price target on shares of Owens Corning in a research note on Monday, March 17th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Finally, Wells Fargo & Company reduced their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Owens Corning Stock Performance

Shares of OC opened at $144.49 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a one year low of $137.50 and a one year high of $214.53. The firm has a market capitalization of $12.36 billion, a P/E ratio of 12.30, a PEG ratio of 1.88 and a beta of 1.52. The business has a fifty day moving average of $167.56 and a 200 day moving average of $176.64.

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

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.91%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction 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. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is owned by company 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.