Atomi Financial Group Inc. Buys 233 Shares of Owens Corning (NYSE:OC)

Atomi Financial Group Inc. lifted its stake in shares of Owens Corning (NYSE:OC) by 3.9% during the fourth quarter, HoldingsChannel reports. The firm owned 6,161 shares of the construction company’s stock after acquiring an additional 233 shares during the quarter. Atomi Financial Group Inc.’s holdings in Owens Corning were worth $1,049,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Brooklyn Investment Group bought a new stake in Owens Corning during the third quarter worth $38,000. Quarry LP raised its holdings in shares of 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 purchasing an additional 144 shares during the period. Tobam lifted its stake in Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares during the last quarter. Versant Capital Management Inc grew its holdings 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 purchasing an additional 178 shares during the period. Finally, NBC Securities Inc. increased its position in Owens Corning by 85.3% during the third quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock worth $90,000 after buying an additional 237 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OC. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $192.00 to $245.00 in a research note on Wednesday, December 11th. Citigroup reduced their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Evercore ISI increased their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.75.

Insiders Place Their Bets

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares in the company, valued at $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 is available at this link. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE OC opened at $187.53 on Thursday. The business has a fifty day moving average price of $185.64 and a two-hundred day moving average price of $177.75. The stock has a market capitalization of $16.09 billion, a PE ratio of 15.96, a P/E/G ratio of 2.01 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53.

Owens Corning (NYSE:OC) last posted 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 net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the business posted $4.15 earnings per share. Owens Corning’s revenue was up 22.9% compared to the same quarter last year. As a group, equities analysts predict that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were given a dividend of $0.69 per share. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.47%. The ex-dividend date was Monday, January 6th. Owens Corning’s payout ratio is currently 23.49%.

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.