Verus Capital Partners LLC Grows Stock Holdings in Owens Corning (NYSE:OC)

Verus Capital Partners LLC boosted its holdings in Owens Corning (NYSE:OC) by 5.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,211 shares of the construction company’s stock after buying an additional 162 shares during the quarter. Verus Capital Partners LLC’s holdings in Owens Corning were worth $547,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of Owens Corning in the 3rd quarter valued at about $156,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Owens Corning by 3.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,793 shares of the construction company’s stock valued at $1,199,000 after purchasing an additional 211 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Owens Corning by 132.5% in the third quarter. Nisa Investment Advisors LLC now owns 11,893 shares of the construction company’s stock valued at $2,099,000 after purchasing an additional 6,778 shares during the last quarter. Integrated Advisors Network LLC purchased a new position in Owens Corning in the third quarter valued at approximately $240,000. Finally, Stephens Inc. AR acquired a new stake in Owens Corning during the third quarter worth approximately $718,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Trading Up 1.2 %

Shares of OC stock opened at $153.96 on Friday. The company has a market capitalization of $13.21 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $175.41 and its two-hundred day moving average is $178.64. Owens Corning has a twelve month low of $148.78 and a twelve month high of $214.53.

Owens Corning (NYSE:OC) last posted its quarterly earnings data 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 firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the firm posted $3.21 EPS. Equities analysts forecast that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.79%. Owens Corning’s dividend payout ratio (DPR) is 23.49%.

Insider Buying and Selling

In related news, insider Gunner Smith sold 17,450 shares of the company’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 owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Monaco Nicolas Del sold 1,750 shares of the 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 owns 11,635 shares of the company’s stock, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

OC has been the subject of several research analyst reports. Barclays lowered their target price on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday. The Goldman Sachs Group raised their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Evercore ISI boosted 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. Royal Bank of Canada decreased their target price on Owens Corning from $224.00 to $212.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Citigroup cut their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and a consensus target price of $207.00.

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.