Global Trust Asset Management LLC Invests $31,000 in Owens Corning (NYSE:OC)

Global Trust Asset Management LLC purchased a new stake in Owens Corning (NYSE:OC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 183 shares of the construction company’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OC. Brooklyn Investment Group acquired a new position in Owens Corning during the third quarter worth $38,000. Quarry LP raised its stake in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after buying an additional 144 shares during the last quarter. Tobam grew 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 acquiring an additional 73 shares during the last quarter. Versant Capital Management Inc increased its holdings in Owens Corning by 88.1% during the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after acquiring an additional 178 shares in the last quarter. Finally, NBC Securities Inc. raised 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 acquiring an additional 237 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Transactions at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

Owens Corning stock opened at $187.53 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company has a market cap of $16.09 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 2.06 and a beta of 1.46. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53. The firm has a 50 day moving average price of $185.64 and a 200 day moving average price of $177.75.

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

Owens Corning Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, January 6th were paid a $0.69 dividend. 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 1.47%. The ex-dividend date was Monday, January 6th. Owens Corning’s payout ratio is currently 23.49%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OC. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. UBS Group raised their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Evercore ISI increased their price objective on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Wells Fargo & Company upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $195.00 to $225.00 in a research report on Tuesday, December 17th. Finally, 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. 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, the company has a consensus rating of “Moderate Buy” and an average price target of $201.75.

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.