Owens Corning (NYSE:OC) Stake Lowered by Choreo LLC

Choreo LLC cut its stake in Owens Corning (NYSE:OC) by 17.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,295 shares of the construction company’s stock after selling 469 shares during the quarter. Choreo LLC’s holdings in Owens Corning were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning during the 4th quarter valued at about $31,000. Brooklyn Investment Group bought a new stake in Owens Corning during the third quarter worth approximately $38,000. Versant Capital Management Inc raised its position in shares of 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 purchasing an additional 178 shares during the period. NBC Securities Inc. raised its position in shares of Owens Corning by 85.3% in the third quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock valued at $90,000 after purchasing an additional 237 shares during the period. Finally, Private Trust Co. NA lifted its stake in shares of Owens Corning by 44.8% in the third quarter. Private Trust Co. NA now owns 566 shares of the construction company’s stock worth $100,000 after buying an additional 175 shares during the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Trading Down 1.2 %

Shares of OC opened at $176.12 on Thursday. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53. The business has a 50-day moving average of $180.55 and a 200 day moving average of $178.77. The firm 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. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

Owens Corning Announces Dividend

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 paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.

Insider Transactions at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the business’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 transaction, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. 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. 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, StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.75.

Owens Corning Company 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.