Fox Run Management L.L.C. Acquires Shares of 3,806 Owens Corning (NYSE:OC)

Fox Run Management L.L.C. bought a new stake in Owens Corning (NYSE:OC) during the 4th quarter, Holdings Channel reports. The firm bought 3,806 shares of the construction company’s stock, valued at approximately $648,000.

A number of other large investors also recently bought and sold shares of OC. Stratos Wealth Partners LTD. lifted its stake in 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 buying an additional 53 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of Owens Corning by 1.5% during the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock worth $663,000 after purchasing an additional 56 shares during the last quarter. Retirement Guys Formula LLC grew its position in shares of Owens Corning by 3.1% in the fourth quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock valued at $341,000 after purchasing an additional 60 shares during the period. IFP Advisors Inc lifted its position in Owens Corning by 35.6% during the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock worth $40,000 after buying an additional 62 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Owens Corning by 2.5% in the 4th quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock valued at $439,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling

In related news, 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 transaction of $321,947.50. Following the transaction, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % 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 currently owned by corporate insiders.

Owens Corning Trading Up 4.7 %

Shares of OC stock opened at $151.21 on Tuesday. 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 50-day simple moving average of $167.19 and a 200 day simple moving average of $176.71. Owens Corning has a fifty-two week low of $137.50 and a fifty-two week high of $214.53. The stock has a market capitalization of $12.93 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last released its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the business earned $3.21 earnings per share. The business’s quarterly revenue was up 23.3% on a year-over-year basis. On average, sell-side 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 declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.83%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OC. Royal Bank of Canada reissued an “outperform” rating and set a $212.00 target price on shares of Owens Corning in a research report on Monday, March 17th. JPMorgan Chase & Co. reduced their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Citigroup dropped their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Barclays reduced their target price on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $204.18.

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.