Jones Financial Companies Lllp Purchases 551 Shares of Owens Corning (NYSE:OC)

Jones Financial Companies Lllp lifted its position in shares of Owens Corning (NYSE:OC) by 82.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,223 shares of the construction company’s stock after purchasing an additional 551 shares during the quarter. Jones Financial Companies Lllp’s holdings in Owens Corning were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Norden Group LLC boosted its position in shares of Owens Corning by 6.4% during the fourth quarter. Norden Group LLC now owns 1,224 shares of the construction company’s stock valued at $208,000 after purchasing an additional 74 shares in the last quarter. US Bancorp DE boosted its position in shares of Owens Corning by 1.4% during the fourth quarter. US Bancorp DE now owns 7,040 shares of the construction company’s stock valued at $1,199,000 after purchasing an additional 94 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Owens Corning by 41.7% during the fourth quarter. Fisher Asset Management LLC now owns 200,872 shares of the construction company’s stock valued at $34,213,000 after purchasing an additional 59,069 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Owens Corning during the fourth quarter valued at approximately $714,000. Finally, Verus Capital Partners LLC boosted its position in shares of Owens Corning by 5.3% during the fourth quarter. Verus Capital Partners LLC now owns 3,211 shares of the construction company’s stock valued at $547,000 after purchasing an additional 162 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OC has been the topic of several analyst reports. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. UBS Group dropped their target price on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Finally, Citigroup dropped their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Owens Corning Stock Down 3.3 %

OC stock opened at $137.89 on Friday. Owens Corning has a 1-year low of $137.50 and a 1-year high of $214.53. The business has a fifty day moving average price of $171.15 and a 200-day moving average price of $177.74. 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 market capitalization of $11.80 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last posted its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating 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 return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.21 earnings per share. Equities analysts forecast that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Insider Activity at Owens Corning

In related news, 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 completion of the sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is owned by company insiders.

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.