Canandaigua National Bank & Trust Co. Has $204,000 Stock Holdings in Owens Corning (NYSE:OC)

Canandaigua National Bank & Trust Co. trimmed its stake in shares of Owens Corning (NYSE:OC) by 15.3% during the fourth quarter, Holdings Channel reports. The firm owned 1,199 shares of the construction company’s stock after selling 217 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Owens Corning were worth $204,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Retirement Guys Formula LLC lifted its position in shares of Owens Corning by 3.1% during the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after buying an additional 58 shares during the period. PFG Investments LLC boosted its stake in shares of Owens Corning by 3.9% in the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after purchasing an additional 68 shares in the last quarter. Tobam grew its holdings in shares of Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after purchasing an additional 73 shares during the last quarter. First Bank & Trust increased its position in shares of Owens Corning by 2.0% during the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock worth $646,000 after purchasing an additional 73 shares in the last quarter. Finally, KMG Fiduciary Partners LLC lifted its holdings in Owens Corning by 1.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock valued at $959,000 after purchasing an additional 80 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the 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 transaction, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This represents a 48.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank of Canada boosted their target price on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group increased their target price on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Evercore ISI increased their price objective 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. Finally, Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $192.00 to $245.00 in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $202.17.

Owens Corning Stock Down 1.4 %

Owens Corning stock opened at $168.83 on Wednesday. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. 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 company has a 50 day moving average of $187.46 and a 200-day moving average of $177.28. The stock has a market capitalization of $14.48 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 2.14 and a beta of 1.46.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the business posted $4.15 EPS. On average, equities research analysts anticipate that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders 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 represents a $2.76 dividend on an annualized basis and a yield of 1.63%. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio is 23.49%.

About Owens Corning

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.