9,303 Shares in Owens Corning (NYSE:OC) Purchased by Avanza Fonder AB

Avanza Fonder AB bought a new stake in shares of Owens Corning (NYSE:OC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,303 shares of the construction company’s stock, valued at approximately $1,584,000.

A number of other hedge funds have also recently modified their holdings of the business. Brooklyn Investment Group purchased a new position in Owens Corning during the 3rd quarter valued at $38,000. Quarry LP boosted its stake in shares of Owens Corning by 165.5% during 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 during the period. 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 worth $47,000 after purchasing an additional 73 shares during the last quarter. Versant Capital Management Inc increased its stake in Owens Corning by 88.1% in the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after buying an additional 178 shares during the period. Finally, NBC Securities Inc. lifted its holdings in 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 buying an additional 237 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Insiders Place Their Bets

In other news, insider Gunner Smith sold 17,450 shares of the stock in a transaction dated Friday, December 13th. The stock was 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. This represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Owens Corning Stock Performance

Shares of OC opened at $182.86 on Friday. 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 firm has a market cap of $15.69 billion, a PE ratio of 15.56, a P/E/G ratio of 1.84 and a beta of 1.46. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53. The stock has a fifty day moving average price of $186.08 and a 200-day moving average price of $177.36.

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 analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the business posted $4.15 earnings per share. The firm’s revenue was up 22.9% compared to the same quarter last year. Equities research analysts predict that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were paid a dividend of $0.69 per share. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a yield of 1.51%. Owens Corning’s dividend payout ratio is presently 23.49%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on OC shares. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $192.00 to $245.00 in a research note on Wednesday, December 11th. UBS Group raised their price objective on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their target price on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $195.00 to $225.00 in a research note on Tuesday, December 17th. Finally, Loop Capital lowered their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.