Owens Corning (NYSE:OC) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its holdings in Owens Corning (NYSE:OC) by 32.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,752 shares of the construction company’s stock after purchasing an additional 16,377 shares during the period. Janney Montgomery Scott LLC owned approximately 0.08% of Owens Corning worth $11,369,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OC. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning in the fourth quarter valued at approximately $31,000. Brooklyn Investment Group acquired a new position in shares of Owens Corning in the third quarter valued at approximately $38,000. Quarry LP grew its holdings in shares of Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after purchasing an additional 144 shares in the last quarter. Tobam grew its holdings in shares of Owens Corning by 38.0% in the third quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Owens Corning by 88.1% in the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after acquiring an additional 178 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Down 0.0 %

OC stock opened at $187.70 on Monday. The company has a fifty day moving average price of $185.37 and a 200 day moving average price of $178.12. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53. The company has a market cap of $16.10 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 2.05 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.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the firm earned $4.15 EPS. Owens Corning’s revenue for the quarter was up 22.9% on a year-over-year basis. Sell-side analysts expect that Owens Corning will post 15.47 earnings per share for the current year.

Owens Corning Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were paid a $0.69 dividend. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.47%. The ex-dividend date was Monday, January 6th. Owens Corning’s payout ratio is currently 23.49%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Citigroup decreased their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group lifted their price target 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. Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $195.00 to $225.00 in a research note on Tuesday, December 17th. Finally, Evercore ISI lifted their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.75.

Owens Corning Company 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.