Verus Capital Partners LLC Boosts Stake in Owens Corning (NYSE:OC)

Verus Capital Partners LLC raised its stake in shares of Owens Corning (NYSE:OC) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,211 shares of the construction company’s stock after acquiring an additional 162 shares during the quarter. Verus Capital Partners LLC’s holdings in Owens Corning were worth $547,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning during the fourth quarter worth $28,000. Venturi Wealth Management LLC increased its holdings in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after buying an additional 63 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in Owens Corning in the 4th quarter worth about $31,000. Wilmington Savings Fund Society FSB raised its stake in shares of Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after buying an additional 122 shares during the period. Finally, Whipplewood Advisors LLC acquired a new position in Owens Corning during the fourth quarter worth $34,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Stock Performance

Shares of OC stock opened at $153.96 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market cap of $13.21 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.88 and a beta of 1.46. The firm’s 50 day moving average price is $175.41 and its 200-day moving average price is $178.64. Owens Corning has a one year low of $148.78 and a one year high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. The firm’s revenue was up 23.3% compared to the same quarter last year. As a group, equities research analysts predict that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.79%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio is currently 23.49%.

Insiders Place Their Bets

In other news, insider Gunner Smith sold 17,450 shares of the stock in a transaction 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 sale, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on OC. The Goldman Sachs Group increased their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Loop Capital lowered their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada cut their price objective on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating for the company in a research report on Tuesday. UBS Group decreased their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company cut their price target on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.00.

About Owens Corning

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.