Cookson Peirce & Co. Inc. Acquires 382 Shares of Owens Corning (NYSE:OC)

Cookson Peirce & Co. Inc. lifted its holdings in Owens Corning (NYSE:OC) by 7.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,351 shares of the construction company’s stock after buying an additional 382 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Owens Corning were worth $911,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Synergy Investment Management LLC acquired a new position in shares of Owens Corning in the 4th quarter valued at approximately $69,000. LGT Fund Management Co Ltd. bought a new stake in shares of Owens Corning during the 4th quarter worth approximately $1,065,000. LGT Group Foundation acquired a new position in shares of Owens Corning during the 4th quarter worth approximately $39,054,000. Jones Financial Companies Lllp increased its holdings in shares of Owens Corning by 82.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,223 shares of the construction company’s stock worth $208,000 after acquiring an additional 551 shares during the last quarter. Finally, Norden Group LLC increased its holdings in shares of Owens Corning by 6.4% during the 4th quarter. Norden Group LLC now owns 1,224 shares of the construction company’s stock worth $208,000 after acquiring an additional 74 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Owens Corning 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 value of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares in the company, 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 filing with the SEC, which is available through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of 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 disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

Owens Corning Stock Up 3.4 %

OC stock opened at $148.95 on Thursday. Owens Corning has a twelve month low of $140.94 and a twelve month high of $214.53. 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’s 50 day moving average is $174.41 and its 200-day moving average is $178.71. The firm has a market capitalization of $12.74 billion, a PE ratio of 12.68, a P/E/G ratio of 1.88 and a beta of 1.52.

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. 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 analyst estimates of $2.88 billion. During the same quarter last year, the company earned $3.21 earnings per share. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. Sell-side analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.85%. Owens Corning’s dividend payout ratio (DPR) is currently 37.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OC shares. JPMorgan Chase & Co. decreased their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday. Barclays dropped their price objective 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. Royal Bank of Canada dropped their target price on Owens Corning from $224.00 to $212.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. Evercore ISI increased their target price on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company lowered their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning presently has a consensus rating of “Moderate Buy” and an average target price of $204.18.

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.