Wealth Enhancement Advisory Services LLC Buys 100 Shares of Owens Corning (NYSE:OC)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Owens Corning (NYSE:OC) by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 6,893 shares of the construction company’s stock after acquiring an additional 100 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Owens Corning were worth $1,217,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Point72 Asset Management L.P. boosted its holdings in shares of Owens Corning by 168.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after purchasing an additional 464,981 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Owens Corning by 38.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after buying an additional 446,073 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after buying an additional 424,786 shares in the last quarter. Goldentree Asset Management LP bought a new position in Owens Corning in the third quarter valued at about $43,559,000. Finally, Nordea Investment Management AB raised its stake in Owens Corning by 12.5% during the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after acquiring an additional 238,694 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on OC shares. Loop Capital reduced their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Citigroup cut their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $195.00 to $225.00 in a report on Tuesday, December 17th. The Goldman Sachs Group raised their price objective on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.75.

Owens Corning Price Performance

Shares of OC opened at $179.36 on Thursday. The business has a 50-day moving average of $186.51 and a 200-day moving average of $177.16. 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 company has a market capitalization of $15.39 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 2.14 and a beta of 1.46. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53.

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, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the business earned $4.15 EPS. The company’s revenue was up 22.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be issued a $0.69 dividend. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, January 6th. This represents a $2.76 annualized dividend and a yield of 1.54%. Owens Corning’s payout ratio is presently 23.49%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction that occurred on 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 approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.89% of the company’s stock.

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.