Sequoia Financial Advisors LLC Grows Stock Holdings in Owens Corning (NYSE:OC)

Sequoia Financial Advisors LLC raised its position in shares of Owens Corning (NYSE:OC) by 8.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,696 shares of the construction company’s stock after buying an additional 133 shares during the period. Sequoia Financial Advisors LLC’s holdings in Owens Corning were worth $289,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Clare Market Investments LLC purchased a new position in shares of Owens Corning in the 4th quarter valued at approximately $562,000. Independent Advisor Alliance purchased a new position in shares of Owens Corning in the 4th quarter valued at approximately $244,000. Moran Wealth Management LLC raised its position in shares of Owens Corning by 0.4% in the 4th quarter. Moran Wealth Management LLC now owns 106,937 shares of the construction company’s stock valued at $18,214,000 after purchasing an additional 390 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Owens Corning by 2.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 640,506 shares of the construction company’s stock valued at $109,091,000 after purchasing an additional 16,958 shares during the last quarter. Finally, Ruffer LLP purchased a new position in shares of Owens Corning in the 4th quarter valued at approximately $5,236,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business’s 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 in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.89% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE OC opened at $147.60 on Thursday. The stock has a market capitalization of $12.63 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.88 and a beta of 1.52. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53. The firm’s 50 day simple moving average is $168.49 and its 200-day simple moving average is $176.90. 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 issued its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the company earned $3.21 EPS. The business’s revenue was up 23.3% on a year-over-year basis. Analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.87%. Owens Corning’s dividend payout ratio is currently 37.70%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. UBS Group cut their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $212.00 price target on shares of Owens Corning in a report on Monday. Barclays cut their price target on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $204.18.

Owens Corning 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.