Owens Corning (NYSE:OC) Shares Sold by Empowered Funds LLC

Empowered Funds LLC lowered its position in Owens Corning (NYSE:OC - Free Report) by 81.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,204 shares of the construction company's stock after selling 150,697 shares during the period. Empowered Funds LLC's holdings in Owens Corning were worth $5,996,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Stratos Wealth Partners LTD. grew its position in shares of Owens Corning by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock valued at $221,000 after buying an additional 53 shares during the last quarter. Greenleaf Trust grew its position in shares of Owens Corning by 1.5% in the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company's stock valued at $663,000 after buying an additional 56 shares during the last quarter. Retirement Guys Formula LLC grew its position in shares of Owens Corning by 3.1% in the 3rd quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company's stock valued at $342,000 after buying an additional 58 shares during the last quarter. PFG Investments LLC grew its position in shares of Owens Corning by 3.9% in the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company's stock valued at $323,000 after buying an additional 68 shares during the last quarter. Finally, First Bank & Trust grew its position in shares of Owens Corning by 2.0% in the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company's stock valued at $646,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company's stock.

Owens Corning Stock Performance

Shares of NYSE:OC traded up $1.40 during midday trading on Friday, hitting $179.44. The stock had a trading volume of 775,359 shares, compared to its average volume of 695,425. The company has a market capitalization of $15.39 billion, a PE ratio of 15.27, a P/E/G ratio of 2.01 and a beta of 1.46. The stock has a 50 day moving average price of $179.67 and a two-hundred day moving average price of $178.75. 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 has a 1 year low of $138.70 and a 1 year high of $214.53.

Owens Corning Dividend Announcement

The company also recently announced 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 is Monday, March 10th. Owens Corning's payout ratio is 23.49%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Evercore ISI increased their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of Owens Corning from $178.00 to $198.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. UBS Group raised their price objective 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. StockNews.com raised shares of Owens Corning from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. Finally, Loop Capital lowered their price objective 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 investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Owens Corning has an average rating of "Moderate Buy" and a consensus price target of $201.75.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, insider Gunner Smith sold 17,450 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider now owns 18,866 shares of the company's stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company's stock.

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.