CWA Asset Management Group LLC Acquires 1,773 Shares of Owens Corning (NYSE:OC)

CWA Asset Management Group LLC raised its holdings in shares of Owens Corning (NYSE:OC) by 29.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,697 shares of the construction company’s stock after purchasing an additional 1,773 shares during the quarter. CWA Asset Management Group LLC’s holdings in Owens Corning were worth $1,311,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OC. Commonwealth Equity Services LLC grew its stake in Owens Corning by 95.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 11,908 shares of the construction company’s stock valued at $2,069,000 after buying an additional 5,815 shares during the last quarter. TD Asset Management Inc grew its position in shares of Owens Corning by 81.6% in the second quarter. TD Asset Management Inc now owns 15,675 shares of the construction company’s stock valued at $2,723,000 after purchasing an additional 7,045 shares during the last quarter. Savant Capital LLC increased its stake in shares of Owens Corning by 3.9% during the second quarter. Savant Capital LLC now owns 10,200 shares of the construction company’s stock worth $1,772,000 after purchasing an additional 385 shares during the period. Lake Street Advisors Group LLC acquired a new stake in Owens Corning during the 2nd quarter worth approximately $225,000. Finally, Los Angeles Capital Management LLC boosted its stake in Owens Corning by 50.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 10,957 shares of the construction company’s stock valued at $1,903,000 after purchasing an additional 3,692 shares during the period. 88.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

OC has been the subject of a number of research reports. Evercore ISI lifted their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report 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. Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $195.00 to $225.00 in a research report on Tuesday, December 17th. UBS Group lifted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.17.

Insider Activity

In related news, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the transaction, the insider now owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.89% of the stock is owned by corporate insiders.

Owens Corning Stock Performance

NYSE:OC opened at $171.04 on Tuesday. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock’s 50-day simple moving average is $187.70 and its 200 day simple moving average is $177.35. The firm has a market capitalization of $14.67 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.46.

Owens Corning (NYSE:OC) last posted 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. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company posted $4.15 EPS. On average, analysts anticipate that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, January 6th. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a dividend yield of 1.61%. Owens Corning’s dividend payout ratio is 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.