SVB Wealth LLC Purchases Shares of 4,191 Owens Corning (NYSE:OC)

SVB Wealth LLC purchased a new stake in Owens Corning (NYSE:OC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,191 shares of the construction company’s stock, valued at approximately $714,000.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in Owens Corning during the 3rd quarter valued at about $156,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of 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 during the period. Stephens Inc. AR acquired a new position in shares of Owens Corning in the third quarter valued at approximately $718,000. Farther Finance Advisors LLC increased its stake in Owens Corning by 115.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,686 shares of the construction company’s stock worth $474,000 after buying an additional 1,440 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its holdings in Owens Corning by 10.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,269 shares of the construction company’s stock worth $230,000 after buying an additional 122 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on OC shares. UBS Group dropped their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. The Goldman Sachs Group upped their price target 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 lifted their price objective on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Royal Bank of Canada cut their target price on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company decreased their price target on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and a consensus price target of $207.00.

Owens Corning Stock Performance

Shares of OC stock opened at $148.23 on Tuesday. The stock’s 50-day moving average is $174.96 and its two-hundred day moving average is $178.82. 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 has a 1 year low of $147.78 and a 1 year high of $214.53. The firm has a market cap of $12.68 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.88 and a beta of 1.46.

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 the consensus estimate of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the company earned $3.21 earnings per share. The company’s revenue was up 23.3% compared to the same quarter last year. Analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.86%. Owens Corning’s dividend payout ratio (DPR) is 37.70%.

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gunner Smith sold 17,450 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

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.