Hixon Zuercher LLC Boosts Stake in Owens Corning (NYSE:OC)

Hixon Zuercher LLC lifted its stake in shares of Owens Corning (NYSE:OC) by 8.2% during the fourth quarter, Holdings Channel reports. The fund owned 8,090 shares of the construction company’s stock after purchasing an additional 613 shares during the quarter. Hixon Zuercher LLC’s holdings in Owens Corning were worth $1,378,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Owens Corning during the fourth quarter valued at about $158,000. KBC Group NV lifted its position in shares of Owens Corning by 97.3% during the fourth quarter. KBC Group NV now owns 362,416 shares of the construction company’s stock worth $61,727,000 after purchasing an additional 178,710 shares during the last quarter. Blue Trust Inc. grew its stake in Owens Corning by 88.8% in the fourth quarter. Blue Trust Inc. now owns 2,073 shares of the construction company’s stock worth $366,000 after purchasing an additional 975 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in Owens Corning by 11.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 1,369 shares of the construction company’s stock valued at $233,000 after buying an additional 145 shares during the last quarter. Finally, Impact Partnership Wealth LLC acquired a new stake in Owens Corning during the fourth quarter valued at approximately $314,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Performance

Shares of OC opened at $190.64 on Friday. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company has a market capitalization of $16.35 billion, a PE ratio of 16.22, a PEG ratio of 2.04 and a beta of 1.46. The company’s 50 day moving average price is $184.95 and its 200 day moving average price is $178.48.

Owens Corning (NYSE:OC) last issued its 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 firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the company posted $4.15 earnings per share. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. Research analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were paid a $0.69 dividend. The ex-dividend date was Monday, January 6th. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 dividend on an annualized basis and a yield of 1.45%. Owens Corning’s payout ratio is 23.49%.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OC shares. The Goldman Sachs Group boosted their price target on 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 boosted their target price for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Citigroup cut their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Evercore ISI upped their target price on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $201.75.

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.