Owens Corning (NYSE:OC) Stock Position Lowered by Bank of New Hampshire

Bank of New Hampshire trimmed its position in shares of Owens Corning (NYSE:OC) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,886 shares of the construction company’s stock after selling 273 shares during the period. Bank of New Hampshire’s holdings in Owens Corning were worth $2,024,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Alpha DNA Investment Management LLC lifted its position in Owens Corning by 147.4% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after buying an additional 2,544 shares in the last quarter. Penserra Capital Management LLC grew its stake in Owens Corning by 53.3% in the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after purchasing an additional 1,643 shares in the last quarter. Atria Investments Inc increased its position in Owens Corning by 93.3% in the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after purchasing an additional 6,373 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Owens Corning during the 3rd quarter worth about $1,046,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Owens Corning by 3.1% during the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock valued at $1,189,000 after buying an additional 200 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Stock Performance

Shares of OC stock traded down $0.53 during trading hours on Tuesday, reaching $170.67. 29,304 shares of the company’s stock were exchanged, compared to its average volume of 398,054. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53. 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 stock has a market capitalization of $14.64 billion, a P/E ratio of 14.53, a P/E/G ratio of 2.14 and a beta of 1.46. The business has a fifty day moving average price of $187.70 and a 200-day moving average price of $177.35.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion during 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%. During the same period in the prior year, the firm earned $4.15 EPS. The business’s revenue was up 22.9% on a year-over-year basis. Analysts predict that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, January 6th. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Evercore ISI increased their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. UBS Group raised their price target 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. Royal Bank of Canada upped their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. Finally, StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.17.

Insider Activity at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the stock in a transaction dated 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 $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.89% of the stock is currently owned by corporate insiders.

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.