Bryce Point Capital LLC purchased a new stake in shares of Owens Corning (NYSE:OC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,104 shares of the construction company's stock, valued at approximately $529,000.
Other institutional investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new stake in Owens Corning during the fourth quarter worth $28,000. Venturi Wealth Management LLC grew its stake in shares of Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Owens Corning in the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB lifted its position in shares of Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock valued at $32,000 after purchasing an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in Owens Corning during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 88.40% of the company's stock.
Insiders Place Their Bets
In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm's 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 sale, the insider now directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.82% of the company's stock.
Owens Corning Stock Performance
Shares of OC stock traded up $15.19 during trading on Wednesday, reaching $141.51. 1,282,286 shares of the company's stock traded hands, compared to its average volume of 795,168. The firm's 50-day moving average is $154.47 and its 200 day moving average is $173.98. The company has a market capitalization of $12.10 billion, a P/E ratio of 12.04, a PEG ratio of 1.88 and a beta of 1.39. Owens Corning has a 1 year low of $123.41 and a 1 year high of $214.53. 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 (NYSE:OC - Get Free Report) last posted its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business's quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.21 earnings per share. Equities research analysts expect 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. Investors 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 yield of 1.95%. The ex-dividend date is Monday, March 10th. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. StockNews.com lowered shares of Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Wells Fargo & Company cut their price objective on Owens Corning from $225.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. UBS Group decreased their target price on Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Barclays cut their price target on shares of Owens Corning from $215.00 to $179.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Royal Bank of Canada restated an "outperform" rating and set a $212.00 price objective on shares of Owens Corning in a report on Monday, March 17th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Owens Corning currently has an average rating of "Moderate Buy" and a consensus target price of $199.42.
Read Our Latest Stock Report on OC
Owens Corning Company Profile
(
Free Report)
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.
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