3,364 Shares in Owens Corning (NYSE:OC) Purchased by Merit Financial Group LLC

Merit Financial Group LLC purchased a new stake in Owens Corning (NYSE:OC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,364 shares of the construction company’s stock, valued at approximately $573,000.

Several other hedge funds have also bought and sold shares of the stock. Brooklyn Investment Group acquired a new position in shares of Owens Corning in the 3rd quarter valued at $38,000. Quarry LP boosted its stake in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after acquiring an additional 144 shares in the last quarter. Tobam grew its position in shares of Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after acquiring an additional 73 shares during the period. Versant Capital Management Inc raised its holdings in Owens Corning by 88.1% in the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after purchasing an additional 178 shares during the period. Finally, NBC Securities Inc. boosted its position in Owens Corning by 85.3% during the third quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock worth $90,000 after purchasing an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Up 0.1 %

Shares of OC opened at $187.53 on Thursday. Owens Corning has a 52-week low of $138.70 and a 52-week 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 has a fifty day simple moving average of $185.64 and a two-hundred day simple moving average of $177.75. The company has a market capitalization of $16.09 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46.

Owens Corning (NYSE:OC) last released its quarterly earnings data 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 analysts’ expectations of $3.04 billion. During the same period last year, the business earned $4.15 earnings per share. Owens Corning’s revenue was up 22.9% compared to the same quarter last year. As a group, equities analysts forecast that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.47%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, January 6th. Owens Corning’s dividend payout ratio is presently 23.49%.

Insiders Place Their Bets

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the transaction, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.89% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OC. Citigroup reduced their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Loop Capital dropped their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada boosted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. UBS Group raised their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $195.00 to $225.00 in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.75.

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.