Vest Financial LLC Purchases 5,870 Shares of Owens Corning (NYSE:OC)

Vest Financial LLC boosted its position in Owens Corning (NYSE:OC) by 69.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,355 shares of the construction company’s stock after purchasing an additional 5,870 shares during the quarter. Vest Financial LLC’s holdings in Owens Corning were worth $2,445,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Owens Corning by 113.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after acquiring an additional 424,786 shares during the period. Pacer Advisors Inc. increased its stake in shares of Owens Corning by 16.4% during the third 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 in the last quarter. Goldentree Asset Management LP bought a new stake in shares of Owens Corning in the 3rd quarter worth approximately $43,559,000. Nordea Investment Management AB grew its stake in shares of Owens Corning by 12.5% in the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after buying an additional 238,694 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Owens Corning by 31.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock valued at $145,455,000 after buying an additional 197,667 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 1.6 %

Shares of OC opened at $181.06 on Friday. The business’s 50 day simple moving average is $182.04 and its 200-day simple moving average is $178.74. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The stock has a market capitalization of $15.53 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46.

Owens Corning (NYSE:OC) last posted its earnings results 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. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm posted $4.15 EPS. As a group, equities analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.52%. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

Insider Activity

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the firm’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. This trade represents a 48.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on OC. Barclays upgraded 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. Loop Capital reduced 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. The Goldman Sachs Group upped their target price 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 raised Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $195.00 to $225.00 in a research report on Tuesday, December 17th. Finally, Citigroup lowered their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.