Fortem Financial Group LLC Raises Holdings in Owens Corning (NYSE:OC)

Fortem Financial Group LLC boosted its stake in shares of Owens Corning (NYSE:OC) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,842 shares of the construction company’s stock after acquiring an additional 252 shares during the quarter. Fortem Financial Group LLC’s holdings in Owens Corning were worth $2,017,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its stake in shares of Owens Corning by 95.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 11,908 shares of the construction company’s stock worth $2,069,000 after acquiring an additional 5,815 shares in the last quarter. TD Asset Management Inc increased its position in shares of Owens Corning by 81.6% in the second quarter. TD Asset Management Inc now owns 15,675 shares of the construction company’s stock valued at $2,723,000 after buying an additional 7,045 shares in the last quarter. Savant Capital LLC raised its stake in shares of Owens Corning by 3.9% during the 2nd quarter. Savant Capital LLC now owns 10,200 shares of the construction company’s stock worth $1,772,000 after buying an additional 385 shares during the period. Lake Street Advisors Group LLC acquired a new stake in Owens Corning in the 2nd quarter valued at $225,000. Finally, Los Angeles Capital Management LLC grew its stake in Owens Corning by 50.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 10,957 shares of the construction company’s stock valued at $1,903,000 after acquiring an additional 3,692 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OC. UBS Group increased their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Evercore ISI boosted their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Citigroup reduced their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.17.

Owens Corning Trading Down 0.2 %

NYSE:OC traded down $0.37 on Monday, hitting $171.08. The stock had a trading volume of 240,477 shares, compared to its average volume of 455,620. The company has a fifty day moving average price of $187.98 and a two-hundred day moving average price of $177.38. The stock has a market cap of $14.68 billion, a price-to-earnings ratio of 14.56, a PEG 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. Owens Corning has a 1-year low of $138.70 and a 1-year high of $214.53.

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

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be given a dividend of $0.69 per share. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Monday, January 6th. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.

Insider Activity

In other news, 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 value of $3,336,265.50. Following the completion of the transaction, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.