9,303 Shares in Owens Corning (NYSE:OC) Acquired by Avanza Fonder AB

Avanza Fonder AB bought a new position in Owens Corning (NYSE:OC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,303 shares of the construction company's stock, valued at approximately $1,584,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Retirement Guys Formula LLC grew its stake in shares of Owens Corning by 3.1% in the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company's stock valued at $342,000 after buying an additional 58 shares during the period. PFG Investments LLC boosted its holdings in Owens Corning by 3.9% in the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company's stock worth $323,000 after acquiring an additional 68 shares in the last quarter. Tobam grew its stake in Owens Corning by 38.0% in the third quarter. Tobam now owns 265 shares of the construction company's stock valued at $47,000 after acquiring an additional 73 shares during the period. First Bank & Trust increased its holdings in shares of Owens Corning by 2.0% during the third quarter. First Bank & Trust now owns 3,658 shares of the construction company's stock valued at $646,000 after acquiring an additional 73 shares in the last quarter. Finally, KMG Fiduciary Partners LLC raised its position in shares of Owens Corning by 1.5% during the third quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company's stock worth $959,000 after purchasing an additional 80 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on OC. Citigroup decreased their price target on shares of Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Royal Bank of Canada boosted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. Wells Fargo & Company raised Owens Corning from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $195.00 to $225.00 in a research note on Tuesday, December 17th. Finally, Evercore ISI lifted 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. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $201.75.

Insider Activity

In related news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the transaction, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company's stock.

Owens Corning Stock Performance

Shares of NYSE:OC traded up $3.58 during midday trading on Friday, reaching $182.86. The company had a trading volume of 593,721 shares, compared to its average volume of 823,285. The stock has a market cap of $15.69 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.84 and a beta of 1.46. The company's 50 day moving average price is $186.08 and its 200 day moving average price is $177.42. The company has a current ratio of 1.44, a quick ratio of 0.85 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.

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

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were paid a $0.69 dividend. The ex-dividend date of this dividend was Monday, January 6th. This is a positive change from Owens Corning's previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a dividend yield of 1.51%. Owens Corning's payout ratio 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.