Norden Group LLC Acquires 74 Shares of Owens Corning (NYSE:OC)

Norden Group LLC lifted its stake in Owens Corning (NYSE:OC) by 6.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,224 shares of the construction company’s stock after purchasing an additional 74 shares during the quarter. Norden Group LLC’s holdings in Owens Corning were worth $208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in OC. FPC Investment Advisory Inc. purchased a new position in Owens Corning in the fourth quarter worth about $28,000. Venturi Wealth Management LLC raised its holdings in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after acquiring an additional 63 shares during the last quarter. Global Trust Asset Management LLC bought a new position in Owens Corning in the 4th quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB boosted its stake in Owens Corning by 193.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after purchasing an additional 122 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Owens Corning in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on OC shares. 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 report on Thursday, November 7th. UBS Group dropped their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Citigroup decreased their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Royal Bank of Canada cut their target price on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group increased their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.18.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the company’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 value of $3,336,265.50. Following the completion of the transaction, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This represents a 48.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Trading Up 3.4 %

NYSE:OC opened at $148.95 on Thursday. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The business has a fifty day moving average price of $174.41 and a 200-day moving average price of $178.71. Owens Corning has a one year low of $140.94 and a one year high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.21 earnings per share. Sell-side analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.85%. Owens Corning’s payout ratio is currently 37.70%.

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.