Owens Corning (NYSE:OC) Shares Acquired by Transform Wealth LLC

Transform Wealth LLC grew its position in Owens Corning (NYSE:OC) by 7.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,510 shares of the construction company’s stock after acquiring an additional 3,196 shares during the quarter. Transform Wealth LLC owned about 0.06% of Owens Corning worth $8,092,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. boosted its stake in shares of Owens Corning by 168.3% during the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after buying an additional 464,981 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after purchasing an additional 424,786 shares during the period. Pacer Advisors Inc. grew its position in Owens Corning by 16.4% in the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after buying an additional 261,564 shares during the last quarter. Goldentree Asset Management LP acquired a new position in Owens Corning in the 3rd quarter valued at $43,559,000. Finally, Nordea Investment Management AB lifted its stake in shares of Owens Corning by 12.5% in the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after acquiring an additional 238,694 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on OC shares. Loop Capital reduced their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. UBS Group upped their price target on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their price target on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Citigroup decreased their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $201.75.

Insiders Place Their Bets

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated 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 sale, the insider now owns 18,866 shares in the company, valued at $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by corporate insiders.

Owens Corning Trading Up 2.0 %

Shares of Owens Corning stock opened at $182.86 on Tuesday. The business has a 50 day moving average price of $185.87 and a 200 day moving average price of $177.52. The company has a market capitalization of $15.69 billion, a P/E ratio of 15.56, a P/E/G ratio of 2.01 and a beta of 1.46. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53.

Owens Corning (NYSE:OC) last announced its 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 firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the company posted $4.15 EPS. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. Sell-side analysts anticipate that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a yield of 1.51%. 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%.

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.