Charles Schwab Investment Management Inc. Lowers Stock Holdings in Owens Corning (NYSE:OC)

Charles Schwab Investment Management Inc. reduced its stake in Owens Corning (NYSE:OC) by 0.5% during the 4th quarter, HoldingsChannel reports. The firm owned 589,930 shares of the construction company’s stock after selling 3,224 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Owens Corning were worth $100,477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Stratos Wealth Partners LTD. boosted its stake in shares of Owens Corning by 4.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after buying an additional 53 shares in the last quarter. Greenleaf Trust boosted its position in Owens Corning by 1.5% during the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock worth $663,000 after purchasing an additional 56 shares in the last quarter. Retirement Guys Formula LLC boosted its position in Owens Corning by 3.1% during the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock worth $341,000 after purchasing an additional 60 shares in the last quarter. IFP Advisors Inc boosted its position in Owens Corning by 35.6% during the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock worth $40,000 after purchasing an additional 62 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Owens Corning Trading Down 0.7 %

Shares of NYSE OC opened at $144.54 on Monday. 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 50 day moving average price is $172.91 and its two-hundred day moving average price is $178.38. The stock 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. Owens Corning has a 52-week low of $140.94 and a 52-week high of $214.53.

Owens Corning (NYSE:OC) last announced its quarterly earnings results 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 analysts’ expectations of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.21 EPS. On average, analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders 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 dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

Wall Street Analyst Weigh In

A number of research firms have commented on OC. JPMorgan Chase & Co. decreased their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Wells Fargo & Company dropped their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Citigroup decreased their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Finally, UBS Group reduced their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.18.

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.