Owens Corning (NYSE:OC) Position Lessened by Kestra Investment Management LLC

Kestra Investment Management LLC lowered its stake in shares of Owens Corning (NYSE:OC) by 8.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,436 shares of the construction company’s stock after selling 236 shares during the quarter. Kestra Investment Management LLC’s holdings in Owens Corning were worth $415,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its holdings in shares of Owens Corning by 55.8% during the fourth 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 during the period. Global Trust Asset Management LLC acquired a new position in Owens Corning during the 4th quarter valued at about $31,000. Wilmington Savings Fund Society FSB boosted its stake in Owens Corning by 193.7% during the 4th 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 during the period. Brooklyn Investment Group bought a new position in Owens Corning in the 3rd quarter worth about $38,000. Finally, Versant Capital Management Inc raised its holdings in shares of Owens Corning by 88.1% during the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after buying an additional 178 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OC has been the subject of a number of recent analyst reports. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Loop Capital lowered their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, The Goldman Sachs Group upped their price target on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $206.91.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Owens Corning Stock Down 1.9 %

OC stock opened at $174.29 on Thursday. The firm has a market cap of $14.95 billion, a PE ratio of 14.83, a P/E/G ratio of 1.96 and a beta of 1.46. Owens Corning has a 12 month low of $138.70 and a 12 month 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 firm has a 50 day simple moving average of $178.40 and a 200 day simple moving average of $178.67.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.58%. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

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.