HB Wealth Management LLC bought a new position in shares of Owens Corning (NYSE:OC – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,600 shares of the construction company’s stock, valued at approximately $272,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of OC. Brooklyn Investment Group purchased a new position in Owens Corning in the 3rd quarter worth approximately $38,000. Quarry LP boosted its holdings in Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after acquiring an additional 144 shares during the period. Tobam boosted its holdings in Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after acquiring an additional 73 shares during the period. Versant Capital Management Inc boosted its holdings in Owens Corning by 88.1% in the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after acquiring an additional 178 shares during the period. Finally, NBC Securities Inc. boosted its holdings in Owens Corning by 85.3% in the 3rd quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock worth $90,000 after acquiring an additional 237 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.
Several research firms have recently commented on OC. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Evercore ISI increased their target price on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, UBS Group increased their target price on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.75.
Check Out Our Latest Analysis on Owens Corning
Shares of OC opened at $187.70 on Friday. The business’s fifty day moving average price is $185.37 and its 200 day moving average price is $177.96. Owens Corning has a 12-month low of $138.70 and a 12-month high of $214.53. The stock has a market capitalization of $16.10 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 2.05 and a beta of 1.46. 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 (NYSE:OC – Get Free Report) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the company earned $4.15 earnings per share. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. Equities research analysts forecast that Owens Corning will post 15.47 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were given a $0.69 dividend. The ex-dividend date of this dividend was Monday, January 6th. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.47%. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.
In other news, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The sale 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 corporate insiders.
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.
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Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning (NYSE:OC – Free Report).
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