LPL Financial LLC Has $13.07 Million Stake in Owens Corning (NYSE:OC)

LPL Financial LLC raised its holdings in Owens Corning (NYSE:OC - Free Report) by 43.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 76,747 shares of the construction company's stock after buying an additional 23,427 shares during the quarter. LPL Financial LLC owned 0.09% of Owens Corning worth $13,072,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning in the fourth quarter valued at about $28,000. Venturi Wealth Management LLC raised its holdings in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock valued at $30,000 after acquiring an additional 63 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Owens Corning in the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB grew its holdings in shares of Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock worth $32,000 after purchasing an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Owens Corning during the fourth quarter valued at approximately $34,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Price Performance

Shares of OC stock traded down $4.60 during trading hours on Monday, hitting $129.54. 1,417,608 shares of the company's stock were exchanged, compared to its average volume of 789,468. The stock's 50-day moving average is $158.84 and its 200-day moving average is $175.12. 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 has a 52 week low of $114.86 and a 52 week high of $214.53. The stock has a market cap of $11.08 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39.

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Owens Corning (NYSE:OC - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the firm earned $3.21 EPS. The company's revenue was up 23.3% on a year-over-year basis. As a group, research analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on OC shares. Loop Capital reduced their target price on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Barclays decreased their target price on shares of Owens Corning from $245.00 to $215.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. UBS Group dropped their price target on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. StockNews.com downgraded Owens Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Owens Corning in a research note on Tuesday, April 1st. They issued a "buy" rating and a $183.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $202.42.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the business'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 transaction of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.82% of the stock is owned by company insiders.

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.