Vest Financial LLC Acquires 5,870 Shares of Owens Corning (NYSE:OC)

Vest Financial LLC grew its position in Owens Corning (NYSE:OC - Free Report) by 69.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,355 shares of the construction company's stock after acquiring an additional 5,870 shares during the quarter. Vest Financial LLC's holdings in Owens Corning were worth $2,445,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of OC. JPMorgan Chase & Co. increased its stake in shares of Owens Corning by 113.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company's stock valued at $140,818,000 after buying an additional 424,786 shares during the period. Pacer Advisors Inc. lifted its holdings in Owens Corning by 16.4% during the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company's stock worth $327,286,000 after acquiring an additional 261,564 shares in the last quarter. Goldentree Asset Management LP bought a new position in Owens Corning during the third quarter worth about $43,559,000. Nordea Investment Management AB lifted its holdings in shares of Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock valued at $366,166,000 after purchasing an additional 238,694 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Owens Corning by 31.6% in the third 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. Institutional investors own 88.40% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on OC shares. UBS Group boosted their price target on Owens Corning from $197.00 to $218.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Citigroup cut their target price on Owens Corning from $212.00 to $207.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Wells Fargo & Company upgraded Owens Corning from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $195.00 to $225.00 in a research note on Tuesday, December 17th. StockNews.com upgraded Owens Corning from a "hold" rating to a "buy" rating in a research note on Saturday, November 9th. Finally, Royal Bank of Canada increased their price target on Owens Corning from $213.00 to $217.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $201.75.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm'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 transaction, the insider now owns 11,635 shares of the company's stock, valued at approximately $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 accessible through this link. Also, 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 sale, the insider now directly 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. 0.89% of the stock is currently owned by company insiders.

Owens Corning Trading Down 1.2 %

Shares of NYSE:OC traded down $2.16 on Wednesday, reaching $176.12. 763,564 shares of the company traded hands, compared to its average volume of 685,774. The business's 50-day simple moving average is $180.55 and its 200 day simple moving average is $178.77. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53. The stock has a market capitalization of $15.11 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46. 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 Announces Dividend

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 dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.57%. Owens Corning's dividend payout ratio is currently 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.