Park Capital Management LLC WI Makes New $319,000 Investment in Owens Corning (NYSE:OC)

Park Capital Management LLC WI acquired a new position in Owens Corning (NYSE:OC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,873 shares of the construction company’s stock, valued at approximately $319,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Alpha DNA Investment Management LLC grew its position in shares of Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after acquiring an additional 2,544 shares during the period. Janus Henderson Group PLC boosted its holdings in Owens Corning by 3.1% in the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock worth $1,189,000 after buying an additional 200 shares during the period. Penserra Capital Management LLC boosted its holdings in Owens Corning by 53.3% in the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock worth $832,000 after buying an additional 1,643 shares during the period. Atria Investments Inc boosted its holdings in Owens Corning by 93.3% in the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after buying an additional 6,373 shares during the period. Finally, CWA Asset Management Group LLC bought a new position in Owens Corning in the 3rd quarter worth approximately $1,046,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Performance

Owens Corning stock opened at $176.12 on Thursday. The firm’s fifty day moving average price is $180.55 and its 200-day moving average price is $178.77. 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 stock has a market cap of $15.11 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.

Insider Activity

In related news, insider Gunner Smith sold 17,450 shares of the 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction 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 transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents 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.

Analysts Set New Price Targets

Several research firms recently commented on OC. Royal Bank of Canada raised their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group raised their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Citigroup lowered their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Loop Capital lowered 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 note on Friday, January 10th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price 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.