Rhumbline Advisers Has $42.25 Million Stock Holdings in Owens Corning (NYSE:OC)

Rhumbline Advisers reduced its holdings in Owens Corning (NYSE:OC) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,052 shares of the construction company’s stock after selling 392 shares during the period. Rhumbline Advisers owned about 0.29% of Owens Corning worth $42,248,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Global Trust Asset Management LLC acquired a new stake in shares of Owens Corning in the fourth quarter worth $31,000. Wilmington Savings Fund Society FSB boosted 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 valued at $32,000 after acquiring an additional 122 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Owens Corning in the 3rd quarter valued at $38,000. Versant Capital Management Inc lifted its holdings in Owens Corning by 88.1% during the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after purchasing an additional 178 shares during the last quarter. Finally, NBC Securities Inc. grew its stake in Owens Corning by 85.3% during the third quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock worth $90,000 after buying an additional 237 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of OC opened at $179.44 on Tuesday. The company has a market cap of $15.39 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46. The firm has a 50-day moving average of $179.27 and a 200-day moving average of $178.64. Owens Corning has a one year low of $138.70 and a one year high of $214.53. 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 Announces Dividend

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 given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OC shares. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Evercore ISI raised their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $195.00 to $225.00 in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.91.

Insider Buying and Selling at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate 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.