Owens Corning (NYSE:OC) Shares Purchased by Versant Capital Management Inc

Versant Capital Management Inc raised its position in Owens Corning (NYSE:OC) by 88.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 380 shares of the construction company’s stock after purchasing an additional 178 shares during the quarter. Versant Capital Management Inc’s holdings in Owens Corning were worth $65,000 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 grew its position in Owens Corning by 147.4% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after buying an additional 2,544 shares in the last quarter. Penserra Capital Management LLC lifted 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 worth $832,000 after acquiring an additional 1,643 shares during the period. Atria Investments Inc increased its stake in shares of Owens Corning by 93.3% during the third quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock valued at $2,330,000 after acquiring an additional 6,373 shares during the period. CWA Asset Management Group LLC bought a new stake in Owens Corning during the third quarter worth approximately $1,046,000. Finally, Retirement Systems of Alabama lifted its position in Owens Corning by 3.1% in the third quarter. Retirement Systems of Alabama now owns 196,672 shares of the construction company’s stock worth $34,717,000 after purchasing an additional 5,916 shares during the period. Institutional investors own 88.40% of the company’s stock.

Insider Activity at Owens Corning

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 stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

OC has been the topic of several research analyst reports. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $192.00 to $245.00 in a research report on Wednesday, December 11th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. The Goldman Sachs Group upped their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. UBS Group boosted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Evercore ISI increased 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 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $200.83.

Owens Corning Trading Up 1.7 %

NYSE OC opened at $172.14 on Monday. The firm’s 50 day moving average price is $187.98 and its two-hundred day moving average price is $177.38. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 2.14 and a beta of 1.42.

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

Owens Corning Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be issued a dividend of $0.69 per share. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Monday, January 6th. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.

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.