Owens Corning (NYSE:OC) Shares Acquired by Atria Investments Inc

Atria Investments Inc boosted its stake in shares of Owens Corning (NYSE:OC) by 5.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,954 shares of the construction company’s stock after purchasing an additional 754 shares during the quarter. Atria Investments Inc’s holdings in Owens Corning were worth $2,377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in Owens Corning during the 4th quarter valued at approximately $28,000. Venturi Wealth Management LLC boosted its position in 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 purchasing 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 approximately $31,000. Wilmington Savings Fund Society FSB boosted its position 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. Finally, Whipplewood Advisors LLC acquired a new position in Owens Corning during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

OC has been the subject of a number of analyst reports. UBS Group reduced their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price target 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. Barclays reduced their price target on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Citigroup reduced their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $204.18.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now directly owns 11,635 shares in the company, valued at $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. 0.89% of the stock is owned by insiders.

Owens Corning Trading Down 0.7 %

Shares of Owens Corning stock opened at $144.54 on Monday. 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 firm has a market cap of $12.36 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The business has a fifty day simple moving average of $172.91 and a 200-day simple moving average of $178.38. Owens Corning has a fifty-two week low of $140.94 and a fifty-two week high of $214.53.

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

Owens Corning Announces Dividend

The business also recently announced 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. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

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.