Vontobel Holding Ltd. Raises Stock Position in Owens Corning (NYSE:OC)

Vontobel Holding Ltd. boosted its stake in shares of Owens Corning (NYSE:OC) by 17.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,852 shares of the construction company’s stock after purchasing an additional 1,338 shares during the period. Vontobel Holding Ltd.’s holdings in Owens Corning were worth $1,508,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OC. Creative Planning lifted its stake in Owens Corning by 16.4% during the 3rd quarter. Creative Planning now owns 9,789 shares of the construction company’s stock valued at $1,728,000 after acquiring an additional 1,379 shares during the period. NBC Securities Inc. lifted its stake in shares of Owens Corning by 85.3% in 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 period. Blue Trust Inc. lifted its stake in shares of Owens Corning by 199.2% in the 3rd quarter. Blue Trust Inc. now owns 1,098 shares of the construction company’s stock valued at $191,000 after purchasing an additional 731 shares during the period. First Citizens Bank & Trust Co. acquired a new position in shares of Owens Corning in the 3rd quarter valued at $216,000. Finally, Resonant Capital Advisors LLC lifted its stake in shares of Owens Corning by 5.4% in the 3rd quarter. Resonant Capital Advisors LLC now owns 1,616 shares of the construction company’s stock valued at $285,000 after purchasing an additional 83 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

Owens Corning stock opened at $179.44 on Tuesday. Owens Corning has a 12-month low of $138.70 and a 12-month high of $214.53. The stock has a market cap of $15.39 billion, a P/E ratio of 15.27, a PEG ratio of 2.01 and a beta of 1.46. The company has a 50-day moving average price of $179.27 and a 200 day moving average price of $178.64. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

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 annualized dividend and a yield of 1.54%. The ex-dividend date is Monday, March 10th. Owens Corning’s payout ratio is currently 23.49%.

Insider Buying and Selling

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated 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 completion of the sale, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning 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 sale, the insider now 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 disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. Loop Capital decreased their price objective 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. Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group increased their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.91.

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.