Owens Corning (NYSE:OC) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its stake in shares of Owens Corning (NYSE:OC) by 32.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 66,752 shares of the construction company’s stock after purchasing an additional 16,377 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Owens Corning were worth $11,369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC grew its stake in Owens Corning by 121.9% in the 4th quarter. SG Americas Securities LLC now owns 14,602 shares of the construction company’s stock valued at $2,487,000 after acquiring an additional 8,023 shares during the last quarter. Global Trust Asset Management LLC acquired a new stake in Owens Corning in the 4th quarter valued at about $31,000. Nisa Investment Advisors LLC grew its stake in Owens Corning by 103.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 24,251 shares of the construction company’s stock valued at $4,130,000 after acquiring an additional 12,358 shares during the last quarter. Atomi Financial Group Inc. grew its stake in Owens Corning by 3.9% in the 4th quarter. Atomi Financial Group Inc. now owns 6,161 shares of the construction company’s stock valued at $1,049,000 after acquiring an additional 233 shares during the last quarter. Finally, Transform Wealth LLC lifted its holdings in Owens Corning by 7.2% in the 4th quarter. Transform Wealth LLC now owns 47,510 shares of the construction company’s stock valued at $8,092,000 after purchasing an additional 3,196 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Stock Down 0.0 %

OC opened at $187.70 on Monday. The firm has a 50 day moving average price of $185.37 and a 200 day moving average price of $178.12. The company has a market cap of $16.10 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 2.05 and a beta of 1.46. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53. 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 (NYSE:OC) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion during 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 company’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.15 EPS. Sell-side analysts expect that Owens Corning will post 15.47 earnings per share for the current year.

Owens Corning Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were given a $0.69 dividend. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, January 6th. This represents a $2.76 annualized dividend and a yield of 1.47%. Owens Corning’s dividend payout ratio (DPR) is 23.49%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on OC shares. Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. Loop Capital reduced their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada upped their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Evercore ISI upped their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.