Retirement Guys Formula LLC Increases Stake in Owens Corning (NYSE:OC)

Retirement Guys Formula LLC grew its position in Owens Corning (NYSE:OC) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,999 shares of the construction company’s stock after acquiring an additional 60 shares during the quarter. Retirement Guys Formula LLC’s holdings in Owens Corning were worth $341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Alpha DNA Investment Management LLC grew its holdings in Owens Corning by 147.4% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after acquiring an additional 2,544 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Owens Corning by 3.1% during the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock worth $1,189,000 after acquiring an additional 200 shares in the last quarter. Penserra Capital Management LLC grew its holdings in Owens Corning by 53.3% during the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock worth $832,000 after acquiring an additional 1,643 shares in the last quarter. Atria Investments Inc boosted its holdings in shares of Owens Corning by 93.3% in the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock valued at $2,330,000 after buying an additional 6,373 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in shares of Owens Corning in the 3rd quarter valued at about $1,046,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Performance

OC opened at $178.20 on Wednesday. Owens Corning has a 12-month low of $138.70 and a 12-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 firm has a market capitalization of $15.29 billion, a PE ratio of 15.17, a P/E/G ratio of 2.01 and a beta of 1.46. The firm has a 50 day moving average of $181.09 and a two-hundred day moving average of $178.79.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is presently 23.49%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target 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. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. UBS Group raised their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Evercore ISI increased their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.75.

Insiders Place Their Bets

In other news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

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.