Estate Counselors LLC Makes New Investment in Owens Corning (NYSE:OC)

Estate Counselors LLC purchased a new position in shares of Owens Corning (NYSE:OCFree Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 5,010 shares of the construction company’s stock, valued at approximately $743,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. US Bancorp DE lifted its holdings in shares of Owens Corning by 4.0% in the 1st quarter. US Bancorp DE now owns 6,502 shares of the construction company’s stock worth $595,000 after purchasing an additional 249 shares in the last quarter. HighTower Advisors LLC lifted its stake in Owens Corning by 9.3% during the 1st quarter. HighTower Advisors LLC now owns 2,606 shares of the construction company’s stock valued at $238,000 after acquiring an additional 221 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Owens Corning by 24.9% during the 1st quarter. Natixis Advisors L.P. now owns 13,517 shares of the construction company’s stock valued at $1,237,000 after acquiring an additional 2,693 shares in the last quarter. Bank of Montreal Can lifted its stake in Owens Corning by 10.8% during the 1st quarter. Bank of Montreal Can now owns 19,987 shares of the construction company’s stock valued at $1,888,000 after acquiring an additional 1,952 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Owens Corning by 245.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,649 shares of the construction company’s stock valued at $333,000 after purchasing an additional 2,592 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OC has been the subject of several recent research reports. Evercore ISI lowered Owens Corning from an “outperform” rating to an “in-line” rating and decreased their price objective for the stock from $163.00 to $154.00 in a report on Thursday, February 15th. Barclays downgraded Owens Corning from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $170.00 to $160.00 in a research note on Monday, February 12th. Royal Bank of Canada cut their target price on Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Loop Capital raised their target price on Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday. Finally, The Goldman Sachs Group raised their target price on Owens Corning from $130.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, December 14th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average price target of $159.64.

Get Our Latest Analysis on Owens Corning

Owens Corning Stock Up 2.5 %

Shares of Owens Corning stock opened at $171.00 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.69. The company has a 50-day simple moving average of $154.67 and a two-hundred day simple moving average of $142.69. Owens Corning has a 52-week low of $91.51 and a 52-week high of $171.28. The stock has a market capitalization of $14.88 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47.

Owens Corning (NYSE:OCGet Free Report) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.39. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the company earned $2.49 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts anticipate that Owens Corning will post 14.08 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Monday, March 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.40%. Owens Corning’s dividend payout ratio is currently 18.29%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 708 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $153.73, for a total value of $108,840.84. Following the completion of the transaction, the insider now directly owns 39,994 shares in the company, valued at $6,148,277.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Owens Corning news, EVP Paula Russell sold 3,765 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $162.00, for a total value of $609,930.00. Following the completion of the transaction, the executive vice president now directly owns 20,419 shares in the company, valued at $3,307,878. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gunner Smith sold 708 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $153.73, for a total transaction of $108,840.84. Following the completion of the transaction, the insider now owns 39,994 shares of the company’s stock, valued at $6,148,277.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,672 shares of company stock valued at $3,325,799. Insiders own 0.89% of the company’s stock.

Owens Corning Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

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