Shell Asset Management Co. Sells 8,383 Shares of Owens Corning Inc $OC

Shell Asset Management Co. lowered its position in shares of Owens Corning Inc (NYSE:OC) by 82.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,837 shares of the construction company’s stock after selling 8,383 shares during the quarter. Shell Asset Management Co.’s holdings in Owens Corning were worth $260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Twin Peaks Wealth Advisors LLC bought a new stake in Owens Corning in the 2nd quarter valued at about $26,000. Rexford Capital Inc. acquired a new stake in shares of Owens Corning in the second quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Owens Corning in the second quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC grew its position in Owens Corning by 149.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 222 shares of the construction company’s stock worth $31,000 after buying an additional 133 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new position in Owens Corning during the 2nd quarter worth $37,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Up 0.6%

OC stock opened at $134.31 on Thursday. The firm has a 50-day moving average price of $121.86 and a 200-day moving average price of $128.40. Owens Corning Inc has a 12 month low of $97.53 and a 12 month high of $175.37. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $11.04 billion, a P/E ratio of -23.48, a price-to-earnings-growth ratio of 2.80 and a beta of 1.36.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Monday, March 9th will be given a $0.79 dividend. The ex-dividend date is Monday, March 9th. This represents a $3.16 dividend on an annualized basis and a yield of 2.4%. Owens Corning’s dividend payout ratio (DPR) is currently -55.24%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OC. Argus upgraded Owens Corning to a “strong-buy” rating in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Owens Corning in a research report on Monday, December 29th. Royal Bank Of Canada set a $143.00 target price on shares of Owens Corning in a report on Friday, January 9th. Zacks Research upgraded shares of Owens Corning from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Owens Corning from $157.00 to $113.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.58.

Owens Corning Profile

Owens Corning is a global leader in composite materials and building products, with a primary focus on insulation, roofing, and fiberglass composites. The company serves professional contractors, builders and industrial manufacturers by providing solutions designed to improve energy efficiency, structural performance and durability. Its products are used in residential, commercial, and industrial applications worldwide.

The company’s core product lines include fiberglass insulation for thermal and acoustic comfort, roofing shingles and underlayment systems engineered for weather protection, and advanced composite materials for markets such as wind energy, automotive, marine and infrastructure.