Forsta AP Fonden Has $3.80 Million Stake in Owens Corning (NYSE:OC)

Forsta AP Fonden cut its position in shares of Owens Corning (NYSE:OC - Free Report) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,300 shares of the construction company's stock after selling 2,600 shares during the period. Forsta AP Fonden's holdings in Owens Corning were worth $3,798,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Global Trust Asset Management LLC acquired a new position in Owens Corning during the fourth quarter worth $31,000. Brooklyn Investment Group purchased a new position in Owens Corning during the 3rd quarter valued at about $38,000. Quarry LP grew its position in Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company's stock valued at $40,000 after acquiring an additional 144 shares in the last quarter. Tobam increased its stake in Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company's stock worth $47,000 after buying an additional 73 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in Owens Corning by 88.1% during the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company's stock worth $65,000 after buying an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on OC shares. Evercore ISI upped their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Owens Corning from a "hold" rating to a "buy" rating in a research note on Saturday, November 9th. Barclays upgraded shares of Owens Corning from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Finally, Wells Fargo & Company raised shares of Owens Corning from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $195.00 to $225.00 in a research report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $201.75.

Insider Buying and Selling

In other news, insider Gunner Smith sold 17,450 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the sale, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company's stock.

Owens Corning Stock Performance

NYSE OC traded up $1.38 on Wednesday, hitting $182.10. 554,335 shares of the company's stock were exchanged, compared to its average volume of 682,041. The firm's 50-day moving average price is $182.97 and its two-hundred day moving average price is $178.69. The firm has a market cap of $15.62 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 2.02 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 has a fifty-two week low of $138.70 and a fifty-two week high of $214.53.

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, topping analysts' consensus estimates of $4.05 by $0.33. The company had revenue of $3.05 billion during the quarter, compared to analysts' expectations of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm's quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.15 earnings per share. On average, research analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a yield of 1.52%. This is a boost from Owens Corning's previous quarterly dividend of $0.60. Owens Corning's dividend payout ratio (DPR) is presently 23.49%.

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.