Impact Partnership Wealth LLC Purchases Shares of 1,843 Owens Corning (NYSE:OC)

Impact Partnership Wealth LLC acquired a new position in shares of Owens Corning (NYSE:OC) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,843 shares of the construction company’s stock, valued at approximately $314,000.

Other institutional investors have also bought and sold shares of the company. State Street Corp lifted its position in Owens Corning by 4.7% in the third quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock worth $738,104,000 after buying an additional 187,001 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Owens Corning by 12.5% during the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after purchasing an additional 238,694 shares during the period. Pacer Advisors Inc. grew its holdings in Owens Corning by 16.4% during the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after purchasing an additional 261,564 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Owens Corning by 31.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock worth $145,455,000 after purchasing an additional 197,667 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after purchasing an additional 424,786 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 0.0 %

Owens Corning stock opened at $187.70 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a market cap of $16.10 billion, a P/E ratio of 15.97, a P/E/G ratio of 2.05 and a beta of 1.46. The business has a fifty day moving average of $185.37 and a two-hundred day moving average of $177.96. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping 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 firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the business posted $4.15 EPS. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. On average, analysts forecast that Owens Corning will post 15.47 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

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

Wall Street Analyst Weigh In

OC has been the topic of several recent analyst reports. UBS Group increased their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $195.00 to $225.00 in a report on Tuesday, December 17th. The Goldman Sachs Group lifted 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. Finally, Loop Capital dropped their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $201.75.

Insider Buying and Selling

In related news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. The trade was a 48.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is currently owned by company insiders.

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.