Atria Wealth Solutions Inc. Increases Stake in Owens Corning (NYSE:OC)

Atria Wealth Solutions Inc. boosted its stake in shares of Owens Corning (NYSE:OC) by 16.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,759 shares of the construction company’s stock after purchasing an additional 521 shares during the period. Atria Wealth Solutions Inc.’s holdings in Owens Corning were worth $640,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Venturi Wealth Management LLC raised its stake in shares of Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in Owens Corning in the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB raised its position 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 worth $32,000 after buying an additional 122 shares during the last quarter. Brooklyn Investment Group purchased a new position in Owens Corning during the 3rd quarter worth approximately $38,000. Finally, Versant Capital Management Inc lifted its stake in Owens Corning by 88.1% during the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after acquiring an additional 178 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Down 3.2 %

Shares of OC stock opened at $153.92 on Thursday. Owens Corning has a 1-year low of $147.20 and a 1-year high of $214.53. The company has a market cap of $13.20 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 1.88 and a beta of 1.46. 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 stock has a 50 day simple moving average of $176.07 and a 200-day simple moving average of $178.84.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.21 earnings per share. On average, equities research analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is presently 23.49%.

Insider Buying and Selling

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 value of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in 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 note on Thursday, November 7th. Citigroup reduced their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. UBS Group decreased their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday. Barclays dropped their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $207.00.

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.