Doliver Advisors LP Sells 571 Shares of Owens Corning (NYSE:OC)

Doliver Advisors LP trimmed its stake in shares of Owens Corning (NYSE:OC) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,138 shares of the construction company’s stock after selling 571 shares during the quarter. Doliver Advisors LP’s holdings in Owens Corning were worth $1,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. State Street Corp boosted its position in Owens Corning by 4.7% during the 3rd quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock valued at $738,104,000 after acquiring an additional 187,001 shares in the last quarter. Nordea Investment Management AB grew its stake in Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after purchasing an additional 238,694 shares during the period. Pacer Advisors Inc. raised its holdings in Owens Corning by 16.4% in the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after purchasing an additional 261,564 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Owens Corning by 31.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock valued at $145,455,000 after buying an additional 197,667 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in 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 acquiring an additional 424,786 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were 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 directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on OC shares. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $195.00 to $225.00 in a research report on Tuesday, December 17th. Evercore ISI raised their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. UBS Group boosted their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.83.

Owens Corning Trading Up 0.0 %

Shares of OC traded up $0.06 during mid-day trading on Monday, reaching $171.51. 212,208 shares of the company’s stock traded hands, compared to its average volume of 447,492. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The stock’s 50-day moving average is $187.98 and its two-hundred day moving average is $177.38. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53. The stock has a market cap of $14.71 billion, a P/E ratio of 14.60, a P/E/G ratio of 2.14 and a beta of 1.46.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. The company 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%. Owens Corning’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.15 EPS. Research analysts forecast that Owens Corning will post 15.46 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.61%. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, January 6th. Owens Corning’s payout ratio is 23.49%.

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.