CWA Asset Management Group LLC Has $1.31 Million Position in Owens Corning (NYSE:OC)

CWA Asset Management Group LLC grew its stake in Owens Corning (NYSE:OC) by 29.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,697 shares of the construction company’s stock after buying an additional 1,773 shares during the period. CWA Asset Management Group LLC’s holdings in Owens Corning were worth $1,311,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Alpha DNA Investment Management LLC increased its position in Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after purchasing an additional 2,544 shares during the period. Penserra Capital Management LLC boosted its stake in shares of Owens Corning by 53.3% in the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after purchasing an additional 1,643 shares during the last quarter. Atria Investments Inc raised its stake in Owens Corning by 93.3% during the third quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after buying an additional 6,373 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Owens Corning by 3.1% in the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock valued at $1,189,000 after buying an additional 200 shares during the period. Finally, Retirement Systems of Alabama boosted its position in Owens Corning by 3.1% during the third quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company’s stock valued at $34,717,000 after acquiring an additional 5,916 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OC has been the subject of several research analyst reports. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Wells Fargo & Company upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $195.00 to $225.00 in a report on Tuesday, December 17th. Citigroup reduced their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday. Evercore ISI boosted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $202.17.

Owens Corning Trading Down 0.6 %

OC opened at $171.04 on Tuesday. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53. The firm has a market capitalization of $14.67 billion, a PE ratio of 14.56, a P/E/G ratio of 2.14 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. The company’s 50-day moving average is $187.70 and its 200 day moving average is $177.35.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS 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 during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the business posted $4.15 earnings per share. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. As a group, research analysts predict that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be given a dividend of $0.69 per share. The ex-dividend date is 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 dividend yield of 1.61%. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.

Insider Buying and Selling

In related news, insider Gunner Smith sold 17,450 shares of Owens Corning 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.89% of the stock is owned by 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.