Synergy Investment Management LLC Acquires New Position in Owens Corning (NYSE:OC)

Synergy Investment Management LLC acquired a new stake in Owens Corning (NYSE:OC) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 405 shares of the construction company’s stock, valued at approximately $69,000.

Several other large investors have also bought and sold shares of the business. LGT Fund Management Co Ltd. acquired a new position in Owens Corning in the fourth quarter valued at approximately $1,065,000. LGT Group Foundation bought a new stake in Owens Corning in the fourth quarter valued at approximately $39,054,000. Jones Financial Companies Lllp increased its stake in Owens Corning by 82.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,223 shares of the construction company’s stock valued at $208,000 after purchasing an additional 551 shares in the last quarter. Norden Group LLC increased its stake in Owens Corning by 6.4% in the fourth quarter. Norden Group LLC now owns 1,224 shares of the construction company’s stock valued at $208,000 after purchasing an additional 74 shares in the last quarter. Finally, US Bancorp DE increased its stake in Owens Corning by 1.4% in the fourth quarter. US Bancorp DE now owns 7,040 shares of the construction company’s stock valued at $1,199,000 after purchasing an additional 94 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company lowered their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. UBS Group lowered their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research note on Tuesday. The Goldman Sachs Group upped their target price on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Owens Corning Stock Down 3.0 %

Owens Corning stock opened at $144.02 on Wednesday. The company has a market cap of $12.32 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46. Owens Corning has a 1-year low of $140.94 and a 1-year high of $214.53. The company has a fifty day simple moving average of $174.41 and a 200 day simple moving average of $178.71. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last released its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.21 earnings per share. Research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is currently 37.70%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gunner Smith sold 17,450 shares of the stock in a transaction 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 completion of the sale, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is 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.