Owens Corning (NYSE:OC) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC decreased its holdings in shares of Owens Corning (NYSE:OC) by 13.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,466 shares of the construction company’s stock after selling 1,818 shares during the period. HighTower Advisors LLC’s holdings in Owens Corning were worth $1,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in Owens Corning during the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC boosted its stake in shares of Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Owens Corning during the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB boosted its stake in shares of 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 acquiring an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Owens Corning during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on OC shares. Wells Fargo & Company decreased their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Benchmark reissued a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. UBS Group decreased their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and set a $212.00 price target on shares of Owens Corning in a research note on Monday, March 17th. Finally, Loop Capital decreased their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.18.

Owens Corning Price Performance

OC stock opened at $144.49 on Monday. The stock’s 50 day moving average price is $167.56 and its 200 day moving average price is $176.76. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market cap of $12.36 billion, a P/E ratio of 12.30, a PEG ratio of 1.88 and a beta of 1.52. Owens Corning has a 1 year low of $137.50 and a 1 year high of $214.53.

Owens Corning (NYSE:OC) last issued its quarterly 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 company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.21 EPS. On average, sell-side analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.91%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Insider Buying and Selling at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company’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 in the company, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.89% of the stock is currently owned by insiders.

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.