LPL Financial LLC Raises Stake in Owens Corning (NYSE:OC)

LPL Financial LLC lifted its stake in Owens Corning (NYSE:OC) by 43.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,747 shares of the construction company’s stock after purchasing an additional 23,427 shares during the period. LPL Financial LLC owned about 0.09% of Owens Corning worth $13,072,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OC. FPC Investment Advisory Inc. bought a new stake in shares of Owens Corning in the 4th quarter valued at about $28,000. Venturi Wealth Management LLC increased its holdings in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after buying an additional 63 shares during the period. Global Trust Asset Management LLC bought a new position in Owens Corning in the fourth quarter worth approximately $31,000. Wilmington Savings Fund Society FSB lifted its holdings in Owens Corning by 193.7% during the fourth 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 period. Finally, Whipplewood Advisors LLC bought a new stake in Owens Corning during the 4th quarter valued at $34,000. Institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling

In other Owens Corning 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 value of $321,947.50. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

OC has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $212.00 price target on shares of Owens Corning in a research report on Monday, March 17th. Wells Fargo & Company reduced their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Loop Capital lowered their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. reduced their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.42.

Owens Corning Price Performance

Shares of NYSE OC opened at $147.20 on Thursday. Owens Corning has a 52 week low of $137.50 and a 52 week high of $214.53. The business’s 50 day moving average price is $162.15 and its 200 day moving average price is $175.91. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a market cap of $12.59 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last released 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 firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business’s quarterly revenue 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. On average, sell-side analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.88%. Owens Corning’s payout ratio is 37.70%.

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.