Owens Corning (NYSE:OC) Shares Sold by Diversify Wealth Management LLC

Diversify Wealth Management LLC reduced its position in Owens Corning (NYSE:OC) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,330 shares of the construction company’s stock after selling 166 shares during the period. Diversify Wealth Management LLC’s holdings in Owens Corning were worth $558,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in shares of Owens Corning in the third quarter valued at $38,000. Quarry LP grew its stake in Owens Corning by 165.5% in the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after acquiring an additional 144 shares during the last quarter. Tobam increased its holdings in Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after acquiring an additional 73 shares in the last quarter. Versant Capital Management Inc raised its position in Owens Corning by 88.1% during 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 during the last quarter. Finally, NBC Securities Inc. lifted its holdings in shares of Owens Corning by 85.3% in the third quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock valued at $90,000 after purchasing an additional 237 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

Owens Corning Trading Up 2.6 %

Shares of OC opened at $187.42 on Wednesday. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The firm has a market capitalization of $16.08 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46. 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’s fifty day simple moving average is $185.81 and its 200 day simple moving average is $177.68.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share 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 analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company posted $4.15 EPS. On average, equities research analysts forecast that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, January 6th were given a $0.69 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.76 annualized dividend and a dividend yield of 1.47%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio is presently 23.49%.

Wall Street Analyst Weigh In

OC has been the subject of several research reports. UBS Group upped their target price on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Citigroup reduced their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group lifted their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Evercore ISI lifted their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and an average 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.