Ballentine Partners LLC Acquires 167 Shares of Owens Corning (NYSE:OC)

Ballentine Partners LLC grew its stake in Owens Corning (NYSE:OC) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,001 shares of the construction company’s stock after buying an additional 167 shares during the period. Ballentine Partners LLC’s holdings in Owens Corning were worth $1,022,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OC. Blair William & Co. IL purchased a new position in Owens Corning in the second quarter worth $239,000. Canada Pension Plan Investment Board boosted its holdings in shares of Owens Corning by 22.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,000 shares of the construction company’s stock worth $3,301,000 after purchasing an additional 3,500 shares in the last quarter. AE Wealth Management LLC boosted its holdings in shares of Owens Corning by 9.5% in the 2nd quarter. AE Wealth Management LLC now owns 2,017 shares of the construction company’s stock worth $350,000 after purchasing an additional 175 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of Owens Corning during the 2nd quarter valued at about $223,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of Owens Corning during the 2nd quarter valued at about $205,000. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Up 0.1 %

Shares of Owens Corning stock opened at $187.53 on Thursday. The company’s fifty day simple moving average is $185.64 and its two-hundred day simple moving average is $177.75. 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 company has a market cap of $16.09 billion, a P/E ratio of 15.96, a PEG ratio of 2.01 and a beta of 1.46.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company 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 earned $4.15 earnings per share. Owens Corning’s revenue was up 22.9% on a year-over-year basis. Research analysts anticipate that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $192.00 to $245.00 in a research report on Wednesday, December 11th. Loop Capital decreased their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Citigroup cut their price target 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 raised 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. Finally, The Goldman Sachs Group boosted their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Owens Corning currently has an average rating of “Moderate Buy” and a consensus target price of $201.75.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.89% of the stock is currently owned by corporate insiders.

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.