Owens Corning (NYSE:OC) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of Owens Corning (NYSE:OC) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,364 shares of the construction company’s stock after selling 325 shares during the quarter. State of Alaska Department of Revenue’s holdings in Owens Corning were worth $6,873,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Global Trust Asset Management LLC acquired a new stake in shares of Owens Corning during the fourth quarter worth approximately $31,000. Brooklyn Investment Group bought a new position in Owens Corning during the 3rd quarter valued at $38,000. Tobam grew its holdings in Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after acquiring an additional 73 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Owens Corning by 88.1% in the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after purchasing an additional 178 shares during the last quarter. Finally, NBC Securities Inc. raised its stake in shares of Owens Corning by 85.3% in the 3rd quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock valued at $90,000 after purchasing an additional 237 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. Loop Capital lowered their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Evercore ISI raised their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Citigroup reduced their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.75.

Owens Corning Price Performance

Shares of NYSE:OC opened at $181.06 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm’s 50 day moving average is $182.04 and its two-hundred day moving average is $178.75. The firm has a market capitalization of $15.53 billion, a P/E ratio of 15.41, a PEG ratio of 2.02 and a beta of 1.46. Owens Corning has a 52 week low of $138.70 and a 52 week 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. The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.15 EPS. Analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The business also recently announced 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 of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.52%. Owens Corning’s dividend payout ratio is presently 23.49%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

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.