Owens Corning (NYSE:OC) Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC increased its holdings in shares of Owens Corning (NYSE:OC) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,546 shares of the construction company’s stock after buying an additional 162 shares during the period. DAVENPORT & Co LLC’s holdings in Owens Corning were worth $774,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $31,000. Brooklyn Investment Group acquired a new position in Owens Corning during the third quarter worth $38,000. Tobam grew its holdings in Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after buying an additional 73 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Owens Corning by 88.1% during the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after acquiring an additional 178 shares during the period. Finally, NBC Securities Inc. boosted its position in shares of Owens Corning by 85.3% during the 3rd quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock valued at $90,000 after acquiring an additional 237 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OC. UBS Group raised their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Loop Capital decreased their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Evercore ISI raised their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised 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 research report on Tuesday, December 17th. Finally, Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.75.

Owens Corning Stock Up 0.8 %

Owens Corning stock opened at $183.66 on Friday. The firm has a market capitalization of $15.75 billion, a P/E ratio of 15.63, a P/E/G ratio of 2.02 and a beta of 1.46. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The stock’s fifty day simple moving average is $182.54 and its 200-day simple moving average is $178.73.

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, topping the consensus estimate 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 return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.15 EPS. As a group, equities analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.50%. Owens Corning’s dividend payout ratio (DPR) is 23.49%.

Insider Buying and Selling

In other news, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by insiders.

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.