Kingsview Wealth Management LLC Sells 46,479 Shares of Owens Corning (NYSE:OC)

Kingsview Wealth Management LLC trimmed its stake in Owens Corning (NYSE:OC - Free Report) by 88.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,041 shares of the construction company's stock after selling 46,479 shares during the period. Kingsview Wealth Management LLC's holdings in Owens Corning were worth $1,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock worth $140,818,000 after purchasing an additional 424,786 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Owens Corning by 16.4% in the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company's stock valued at $327,286,000 after buying an additional 261,564 shares in the last quarter. Goldentree Asset Management LP acquired a new position in Owens Corning in the 3rd quarter valued at $43,559,000. Nordea Investment Management AB increased its holdings 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 worth $366,166,000 after buying an additional 238,694 shares during the last quarter. Finally, 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 valued at $145,455,000 after purchasing an additional 197,667 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OC has been the topic of several research analyst reports. Royal Bank of Canada increased their price target 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. Wells Fargo & Company raised shares of Owens Corning from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $195.00 to $225.00 in a research note on Tuesday, December 17th. The Goldman Sachs Group lifted their target price on shares of Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. UBS Group raised their price target on shares of Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Loop Capital reduced their price target on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $201.75.

Insider Activity

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now directly owns 11,635 shares of the company's stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the company's stock in a transaction 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 sale, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company's stock.

Owens Corning Trading Up 0.8 %

NYSE:OC traded up $1.40 during trading hours on Friday, hitting $179.44. The stock had a trading volume of 775,359 shares, compared to its average volume of 684,998. Owens Corning has a one year low of $138.70 and a one year high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company has a market cap of $15.39 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 2.01 and a beta of 1.46. The business's 50 day moving average is $179.67 and its 200-day moving average is $178.72.

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 $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning's dividend payout ratio (DPR) is presently 23.49%.

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.