NewEdge Advisors LLC Purchases 1,470 Shares of Owens Corning (NYSE:OC)

NewEdge Advisors LLC grew its position in shares of Owens Corning (NYSE:OC) by 13.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,521 shares of the construction company’s stock after purchasing an additional 1,470 shares during the quarter. NewEdge Advisors LLC’s holdings in Owens Corning were worth $2,133,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in Owens Corning in the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC increased its position in shares of Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after acquiring an additional 63 shares during the period. Global Trust Asset Management LLC bought a new position in shares of Owens Corning during the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB boosted its holdings in shares of Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after purchasing an additional 122 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in shares of Owens Corning in the fourth quarter worth about $34,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company’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 transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is currently owned by insiders.

Owens Corning Stock Performance

Shares of OC opened at $134.47 on Tuesday. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock has a market cap of $11.50 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.88 and a beta of 1.39. The business’s 50 day moving average price is $147.60 and its 200-day moving average price is $171.97.

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

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is currently 37.70%.

Analysts Set New Price Targets

A number of research analysts have commented on OC shares. Wells Fargo & Company lowered their price target on Owens Corning from $200.00 to $155.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. JPMorgan Chase & Co. cut their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Loop Capital decreased their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.58.

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.