Bleakley Financial Group LLC Raises Stake in Owens Corning (NYSE:OC)

Bleakley Financial Group LLC increased its stake in shares of Owens Corning (NYSE:OC) by 113.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,257 shares of the construction company’s stock after buying an additional 1,731 shares during the period. Bleakley Financial Group LLC’s holdings in Owens Corning were worth $555,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Stratos Wealth Partners LTD. raised its holdings in shares of Owens Corning by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after acquiring an additional 53 shares in the last quarter. Greenleaf Trust raised its holdings in shares of Owens Corning by 1.5% in the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after acquiring an additional 56 shares in the last quarter. Retirement Guys Formula LLC raised its holdings in shares of Owens Corning by 3.1% in the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock valued at $342,000 after acquiring an additional 58 shares in the last quarter. PFG Investments LLC raised its holdings in shares of Owens Corning by 3.9% in the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after acquiring an additional 68 shares in the last quarter. Finally, First Bank & Trust raised its holdings in shares of Owens Corning by 2.0% in the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after acquiring an additional 73 shares in 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 have weighed in on OC. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. Evercore ISI increased their price objective on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. UBS Group increased their price objective on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Citigroup reduced their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $195.00 to $225.00 in a research report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $201.75.

Owens Corning Price Performance

OC opened at $179.95 on Tuesday. 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 current ratio of 1.44 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $181.58 and its 200 day simple moving average is $178.80. The firm has a market cap of $15.44 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.01 and a beta of 1.46.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.

Insiders Place Their Bets

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 stock was 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 in the company, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Company 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.