Owens Corning (NYSE:OC) Shares Sold by Bank of New Hampshire

Bank of New Hampshire reduced its holdings in shares of Owens Corning (NYSE:OC) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,886 shares of the construction company’s stock after selling 273 shares during the quarter. Bank of New Hampshire’s holdings in Owens Corning were worth $2,024,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its position in Owens Corning by 95.4% during the second quarter. Commonwealth Equity Services LLC now owns 11,908 shares of the construction company’s stock worth $2,069,000 after acquiring an additional 5,815 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Owens Corning by 81.6% in the second quarter. TD Asset Management Inc now owns 15,675 shares of the construction company’s stock valued at $2,723,000 after buying an additional 7,045 shares in the last quarter. Savant Capital LLC grew its position in Owens Corning by 3.9% in the second quarter. Savant Capital LLC now owns 10,200 shares of the construction company’s stock valued at $1,772,000 after acquiring an additional 385 shares in the last quarter. Lake Street Advisors Group LLC purchased a new stake in Owens Corning during the 2nd quarter worth $225,000. Finally, Los Angeles Capital Management LLC increased its position in shares of Owens Corning by 50.8% during the second quarter. Los Angeles Capital Management LLC now owns 10,957 shares of the construction company’s stock worth $1,903,000 after acquiring an additional 3,692 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Citigroup decreased their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday. UBS Group increased their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted 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. Finally, Evercore ISI raised their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average target price of $202.17.

Insiders Place Their Bets

In other Owens Corning 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 value of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.89% of the stock is owned by company insiders.

Owens Corning Stock Performance

Shares of NYSE OC traded down $0.53 during midday trading on Tuesday, reaching $170.67. 29,304 shares of the company traded hands, compared to its average volume of 398,054. The company has a market cap of $14.64 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 2.14 and a beta of 1.46. The stock has a 50-day moving average price of $187.70 and a 200 day moving average price of $177.35. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53. 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 (NYSE:OC) last announced its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.15 earnings per share. Sell-side analysts anticipate that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, January 6th will be issued a dividend of $0.69 per share. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Monday, January 6th. Owens Corning’s payout ratio is presently 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.