Bleakley Financial Group LLC Acquires 1,731 Shares of Owens Corning (NYSE:OC)

Bleakley Financial Group LLC grew its holdings in shares of Owens Corning (NYSE:OC - Free Report) by 113.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,257 shares of the construction company's stock after purchasing an additional 1,731 shares during the quarter. Bleakley Financial Group LLC's holdings in Owens Corning were worth $555,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. boosted its position in shares of Owens Corning by 4.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock valued at $221,000 after acquiring an additional 53 shares during the period. E. Ohman J or Asset Management AB boosted its position in shares of Owens Corning by 26.6% in the fourth quarter. E. Ohman J or Asset Management AB now owns 4,050 shares of the construction company's stock valued at $690,000 after acquiring an additional 850 shares during the period. Greenleaf Trust boosted its position in shares of Owens Corning by 1.5% in the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company's stock valued at $663,000 after acquiring an additional 56 shares during the period. Journey Strategic Wealth LLC boosted its position in shares of Owens Corning by 20.1% in the fourth quarter. Journey Strategic Wealth LLC now owns 1,470 shares of the construction company's stock valued at $250,000 after acquiring an additional 246 shares during the period. Finally, DAVENPORT & Co LLC boosted its position in shares of Owens Corning by 3.7% in the fourth quarter. DAVENPORT & Co LLC now owns 4,546 shares of the construction company's stock valued at $774,000 after acquiring an additional 162 shares during the period. Institutional investors own 88.40% of the company's stock.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gunner Smith sold 17,450 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company's stock.

Owens Corning Stock Up 0.8 %

OC stock traded up $1.40 during trading on Friday, hitting $179.44. 775,359 shares of the stock traded hands, compared to its average volume of 695,425. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53. The firm's 50 day moving average is $179.67 and its two-hundred day moving average is $178.75. The stock has a market cap of $15.39 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning's payout ratio is presently 23.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Evercore ISI boosted their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their price target on shares of Owens Corning from $213.00 to $217.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Loop Capital lowered their price objective on shares of 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 upgraded shares of Owens Corning from a "hold" rating to a "buy" rating in a report on Saturday, November 9th. Finally, The Goldman Sachs Group boosted their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $201.75.

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.