Owens Corning (NYSE:OC) Position Trimmed by Kestra Investment Management LLC

Kestra Investment Management LLC trimmed its stake in Owens Corning (NYSE:OC) by 8.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,436 shares of the construction company’s stock after selling 236 shares during the quarter. Kestra Investment Management LLC’s holdings in Owens Corning were worth $415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Stratos Wealth Partners LTD. grew its stake in Owens Corning by 4.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after purchasing an additional 53 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Owens Corning by 1.5% during the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after buying an additional 56 shares during the last quarter. Retirement Guys Formula LLC grew its stake in shares of Owens Corning by 3.1% in the 4th quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock valued at $341,000 after buying an additional 60 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after buying an additional 63 shares during the last quarter. Finally, PFG Investments LLC raised its position in Owens Corning by 3.9% during the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after acquiring an additional 68 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $3,336,265.50. Following the completion of 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. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

OC has been the topic of several analyst reports. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price target for the stock 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 research report on Saturday, November 9th. UBS Group boosted their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their price objective on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $195.00 to $225.00 in a research note on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $206.91.

Owens Corning Stock Performance

Shares of NYSE OC opened at $174.29 on Thursday. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53. The company has a market cap of $14.95 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.96 and a beta of 1.46. The business’s 50 day moving average is $178.40 and its two-hundred day moving average is $178.67. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning Dividend Announcement

The business 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 dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.

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.