Owens Corning (NYSE:OC) Shares Bought by Transform Wealth LLC

Transform Wealth LLC lifted its position in shares of Owens Corning (NYSE:OC) by 7.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 47,510 shares of the construction company’s stock after purchasing an additional 3,196 shares during the period. Transform Wealth LLC’s holdings in Owens Corning were worth $8,092,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in Owens Corning during the third quarter valued at about $38,000. Quarry LP grew its holdings 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 purchasing an additional 144 shares during the period. Tobam increased its position in Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after purchasing an additional 73 shares in the last quarter. Versant Capital Management Inc raised its holdings in Owens Corning by 88.1% in the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after buying an additional 178 shares during the period. Finally, NBC Securities Inc. lifted 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 valued at $90,000 after buying an additional 237 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Stock Up 2.0 %

Shares of NYSE:OC opened at $182.86 on Tuesday. Owens Corning has a 12-month low of $138.70 and a 12-month high of $214.53. 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 firm has a market cap of $15.69 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46. The company has a fifty day simple moving average of $185.87 and a 200 day simple moving average of $177.52.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS 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 return on equity of 25.82% and a net margin of 9.92%. The business’s revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.15 EPS. On average, equities research analysts anticipate that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OC. The Goldman Sachs Group increased their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $192.00 to $245.00 in a research report on Wednesday, December 11th. Citigroup decreased their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Loop Capital dropped their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Royal Bank of Canada upped their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.75.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

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.