Accurate Wealth Management LLC Increases Holdings in Owens Corning (NYSE:OC)

Accurate Wealth Management LLC increased its holdings in Owens Corning (NYSE:OC - Free Report) by 47.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,221 shares of the construction company's stock after acquiring an additional 1,676 shares during the period. Accurate Wealth Management LLC's holdings in Owens Corning were worth $875,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp lifted its stake in Owens Corning by 4.7% in the third quarter. State Street Corp now owns 4,181,421 shares of the construction company's stock valued at $738,104,000 after purchasing an additional 187,001 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock valued at $366,166,000 after buying an additional 238,694 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Owens Corning by 16.4% during the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company's stock worth $327,286,000 after acquiring an additional 261,564 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in Owens Corning by 31.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company's stock worth $145,455,000 after acquiring an additional 197,667 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Owens Corning by 113.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock valued at $140,818,000 after acquiring an additional 424,786 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Price Performance

NYSE:OC traded down $0.37 during midday trading on Thursday, hitting $179.14. The company had a trading volume of 233,616 shares, compared to its average volume of 561,964. The company has a market capitalization of $15.37 billion, a PE ratio of 15.25, a P/E/G ratio of 1.84 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a 52-week low of $138.70 and a 52-week high of $214.53. The stock's fifty day moving average price is $186.40 and its 200-day moving average price is $177.18.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company's revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the company earned $4.15 EPS. As a group, research analysts expect that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.54%. This is a positive change from Owens Corning's previous quarterly dividend of $0.60. The ex-dividend date is Monday, January 6th. Owens Corning's payout ratio is presently 23.49%.

Insider Activity

In other news, insider Gunner Smith sold 17,450 shares of the business's stock in a transaction dated 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 completion of the sale, the insider now owns 18,866 shares of the company's stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on OC. The Goldman Sachs Group increased their target price on Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Citigroup dropped their price objective on Owens Corning from $212.00 to $207.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Loop Capital reduced their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a report on Friday, January 10th. StockNews.com raised shares of Owens Corning from a "hold" rating to a "buy" rating in a report on Saturday, November 9th. Finally, Evercore ISI boosted their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Owens Corning presently has a consensus rating of "Moderate Buy" and an average price target of $201.75.

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.