Owens Corning (NYSE:OC) Stake Raised by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its holdings in Owens Corning (NYSE:OC) by 3.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,430 shares of the construction company’s stock after buying an additional 104 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Owens Corning were worth $584,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning during the 4th quarter worth $28,000. Venturi Wealth Management LLC boosted its position in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after purchasing an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new position in Owens Corning in the 4th quarter worth about $31,000. Wilmington Savings Fund Society FSB raised its holdings in Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after buying an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in Owens Corning during the fourth quarter valued at about $34,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Down 1.8 %

OC opened at $144.49 on Friday. The company has a market capitalization of $12.36 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.88 and a beta of 1.52. 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 firm’s fifty day moving average price is $167.56 and its two-hundred day moving average price is $176.64. Owens Corning has a fifty-two week low of $137.50 and a fifty-two week high of $214.53.

Owens Corning (NYSE:OC) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.21 EPS. On average, analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is currently 37.70%.

Insider Buying and Selling at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OC. Citigroup cut their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company lowered their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $212.00 target price on shares of Owens Corning in a research note on Monday, March 17th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $204.18.

Owens Corning 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.