Ballentine Partners LLC Has $1.02 Million Holdings in Owens Corning (NYSE:OC)

Ballentine Partners LLC boosted its position in Owens Corning (NYSE:OC) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,001 shares of the construction company’s stock after buying an additional 167 shares during the period. Ballentine Partners LLC’s holdings in Owens Corning were worth $1,022,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asset Management L.P. lifted its stake in shares of Owens Corning by 168.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock valued at $128,772,000 after purchasing an additional 464,981 shares during the period. JPMorgan Chase & Co. lifted its stake in Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after buying an additional 424,786 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Owens Corning by 16.4% during the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after buying an additional 261,564 shares in the last quarter. Goldentree Asset Management LP acquired a new stake in shares of Owens Corning during the 3rd quarter worth approximately $43,559,000. Finally, Nordea Investment Management AB grew its position in shares of Owens Corning by 12.5% during 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 period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Trading Up 0.1 %

NYSE:OC opened at $187.53 on Thursday. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53. The firm has a 50-day moving average price of $185.64 and a two-hundred day moving average price of $177.75. The firm has a market cap of $16.09 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the prior year, the business earned $4.15 earnings per share. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, equities analysts expect that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.76 annualized dividend and a yield of 1.47%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio (DPR) is 23.49%.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OC. Royal Bank of Canada increased their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. UBS Group lifted their price target on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $195.00 to $225.00 in a report on Tuesday, December 17th. Finally, Evercore ISI raised their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.75.

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.