Burney Co. Sells 81,107 Shares of Owens Corning (NYSE:OC)

Burney Co. reduced its position in Owens Corning (NYSE:OC - Free Report) by 72.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,970 shares of the construction company's stock after selling 81,107 shares during the quarter. Burney Co.'s holdings in Owens Corning were worth $5,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Owens Corning in the third quarter worth about $38,000. Quarry LP boosted its stake in Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company's stock worth $40,000 after purchasing an additional 144 shares during the period. Tobam grew its holdings in Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company's stock valued at $47,000 after buying an additional 73 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Owens Corning by 88.1% during the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company's stock valued at $65,000 after buying an additional 178 shares during the last quarter. Finally, NBC Securities Inc. lifted its holdings in shares of Owens Corning by 85.3% in the third quarter. NBC Securities Inc. now owns 515 shares of the construction company's stock worth $90,000 after buying an additional 237 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Owens Corning Trading Up 2.7 %

Shares of Owens Corning stock traded up $4.76 during trading on Wednesday, hitting $179.36. The stock had a trading volume of 866,733 shares, compared to its average volume of 592,337. The stock has a market cap of $15.39 billion, a PE ratio of 15.26, a PEG ratio of 2.14 and a beta of 1.46. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53. The firm's fifty day simple moving average is $186.51 and its 200-day simple moving average is $177.16. 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 (NYSE:OC - Get Free Report) last announced its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the business earned $4.15 earnings per share. The company's revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, sell-side analysts expect that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays raised shares of Owens Corning from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Citigroup cut their price objective on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group boosted 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. Loop Capital cut their price target on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a report on Friday, January 10th. Finally, Royal Bank of Canada upped their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an "outperform" 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $201.75.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares of the company's stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.89% of the company's stock.

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.