Doliver Advisors LP Sells 571 Shares of Owens Corning (NYSE:OC)

Doliver Advisors LP trimmed its stake in Owens Corning (NYSE:OC) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,138 shares of the construction company’s stock after selling 571 shares during the period. Doliver Advisors LP’s holdings in Owens Corning were worth $1,556,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in OC. CWA Asset Management Group LLC grew its holdings in Owens Corning by 29.9% in the fourth quarter. CWA Asset Management Group LLC now owns 7,697 shares of the construction company’s stock worth $1,311,000 after purchasing an additional 1,773 shares during the last quarter. Nordea Investment Management AB grew its stake in Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after buying an additional 238,694 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Owens Corning during the 4th quarter valued at about $341,000. GAMMA Investing LLC raised its stake in Owens Corning by 33.4% in the fourth quarter. GAMMA Investing LLC now owns 2,015 shares of the construction company’s stock valued at $343,000 after buying an additional 505 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Owens Corning by 88.1% in the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after acquiring an additional 178 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. The Goldman Sachs Group increased their price objective 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. Evercore ISI lifted their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.83.

Insider Activity

In related news, insider Gunner Smith sold 17,450 shares of the business’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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

Shares of OC stock traded up $0.06 during trading hours on Monday, hitting $171.51. 212,208 shares of the company’s stock were exchanged, compared to its average volume of 447,492. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53. The firm has a market cap of $14.71 billion, a P/E ratio of 14.60, a P/E/G ratio of 2.14 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $187.98 and a two-hundred day moving average of $177.38.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.33. The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same period last year, the firm posted $4.15 earnings per share. Sell-side analysts forecast that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio 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.