LVW Advisors LLC Lowers Position in Owens Corning (NYSE:OC)

LVW Advisors LLC reduced its position in Owens Corning (NYSE:OC) by 18.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,792 shares of the construction company’s stock after selling 401 shares during the quarter. LVW Advisors LLC’s holdings in Owens Corning were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Retirement Guys Formula LLC boosted its position in Owens Corning by 3.1% during the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after purchasing an additional 58 shares in the last quarter. PFG Investments LLC lifted its position in shares of Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after buying an additional 68 shares in the last quarter. Tobam increased its holdings in Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after acquiring an additional 73 shares in the last quarter. First Bank & Trust raised its position in Owens Corning by 2.0% during the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock worth $646,000 after acquiring an additional 73 shares during the period. Finally, KMG Fiduciary Partners LLC lifted its holdings in Owens Corning by 1.5% during the third quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock valued at $959,000 after purchasing an additional 80 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Stock Performance

NYSE OC opened at $182.86 on Tuesday. The stock has a fifty day simple moving average of $185.87 and a 200-day simple moving average of $177.52. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock has a market cap of $15.69 billion, a PE ratio of 15.56, a P/E/G ratio of 1.84 and a beta of 1.46. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53.

Owens Corning (NYSE:OC) last announced its earnings results 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. The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning’s revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.15 earnings per share. Equities analysts anticipate that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.51%. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, January 6th. Owens Corning’s dividend payout ratio is 23.49%.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

OC has been the topic of a number of research reports. 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. UBS Group lifted their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. 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 research note on Tuesday, December 17th. Loop Capital dropped their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Citigroup decreased their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.75.

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.