Park Avenue Securities LLC Purchases 1,431 Shares of Owens Corning (NYSE:OC)

Park Avenue Securities LLC raised its position in shares of Owens Corning (NYSE:OC) by 31.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,964 shares of the construction company’s stock after purchasing an additional 1,431 shares during the quarter. Park Avenue Securities LLC’s holdings in Owens Corning were worth $1,016,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Owens Corning during the 3rd quarter worth approximately $38,000. Quarry LP raised its holdings in shares of Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after acquiring an additional 144 shares in the last quarter. Tobam raised its holdings in shares of Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after acquiring an additional 73 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Owens Corning by 88.1% during the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after acquiring an additional 178 shares in the last quarter. Finally, NBC Securities Inc. increased its position in shares of Owens Corning by 85.3% during the 3rd 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 last quarter. 88.40% of the stock is currently owned by institutional investors.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

Owens Corning Trading Up 2.0 %

Shares of NYSE OC opened at $182.86 on Tuesday. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock has a fifty day simple moving average of $185.87 and a 200-day simple moving average of $177.52. The stock has a market capitalization of $15.69 billion, a PE ratio of 15.56, a PEG ratio of 1.84 and a beta of 1.46.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the firm posted $4.15 EPS. Owens Corning’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, equities analysts forecast that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, January 6th were given a dividend of $0.69 per share. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Monday, January 6th. Owens Corning’s dividend payout ratio is currently 23.49%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Royal Bank of Canada upped their price objective on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Loop Capital cut their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Citigroup dropped their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $201.75.

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.