Owens Corning (NYSE:OC) Stake Trimmed by Atlas Capital Advisors Inc.

Atlas Capital Advisors Inc. reduced its position in Owens Corning (NYSE:OC) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,372 shares of the construction company’s stock after selling 78 shares during the quarter. Atlas Capital Advisors Inc.’s holdings in Owens Corning were worth $745,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OC. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning in the 4th quarter valued at about $28,000. Venturi Wealth Management LLC grew its holdings in shares of Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Owens Corning during the fourth quarter worth $31,000. Wilmington Savings Fund Society FSB grew its stake in Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after purchasing an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Owens Corning during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $212.00 price objective on shares of Owens Corning in a research report on Monday, March 17th. Loop Capital reduced their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. UBS Group cut their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Benchmark reiterated a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $202.42.

Owens Corning Stock Down 6.7 %

OC opened at $137.31 on Friday. Owens Corning has a fifty-two week low of $134.08 and a fifty-two week high of $214.53. The company has a market capitalization of $11.75 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.88 and a beta of 1.52. 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 firm’s fifty day moving average price is $161.14 and its two-hundred day moving average price is $175.64.

Owens Corning (NYSE:OC) last posted its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.21 earnings per share. On average, analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 2.01%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.82% 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.