Owens Corning (NYSE:OC) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its position in shares of Owens Corning (NYSE:OC) by 103.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,251 shares of the construction company’s stock after purchasing an additional 12,358 shares during the period. Nisa Investment Advisors LLC’s holdings in Owens Corning were worth $4,130,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Owens Corning during the third quarter worth $38,000. Quarry LP grew its stake in shares of Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares in the last quarter. Tobam boosted its stake in Owens Corning by 38.0% in the third quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after acquiring an additional 73 shares in the last quarter. Versant Capital Management Inc boosted its stake in Owens Corning by 88.1% in the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after acquiring an additional 178 shares in the last quarter. Finally, NBC Securities Inc. boosted its stake in Owens Corning by 85.3% in the third quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock valued at $90,000 after acquiring an additional 237 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Down 0.0 %

NYSE OC opened at $187.70 on Friday. The stock has a market capitalization of $16.10 billion, a P/E ratio of 15.97, a P/E/G ratio of 2.05 and a beta of 1.46. Owens Corning has a 52-week low of $138.70 and a 52-week high of $214.53. The firm has a 50-day moving average price of $185.37 and a 200 day moving average price of $178.04. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.15 earnings per share. Equities research analysts expect that Owens Corning will post 15.47 EPS for the current year.

Owens Corning Increases Dividend

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 dividend of $0.69 per share. 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%. The ex-dividend date was Monday, January 6th. Owens Corning’s dividend payout ratio is presently 23.49%.

Insiders Place Their Bets

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the company’s 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 transaction, the insider now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on OC. UBS Group upped their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Citigroup decreased 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 note on Monday, January 6th. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Finally, Loop Capital reduced their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.75.

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.