Fortem Financial Group LLC Purchases 252 Shares of Owens Corning (NYSE:OC)

Fortem Financial Group LLC boosted its position in Owens Corning (NYSE:OC) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,842 shares of the construction company’s stock after purchasing an additional 252 shares during the period. Fortem Financial Group LLC’s holdings in Owens Corning were worth $2,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. State Street Corp grew its holdings in shares of Owens Corning by 4.7% in the third quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock worth $738,104,000 after purchasing an additional 187,001 shares during the last quarter. Nordea Investment Management AB grew its stake in Owens Corning by 12.5% in the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after acquiring an additional 238,694 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Owens Corning by 16.4% during the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after acquiring an additional 261,564 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Owens Corning by 31.6% during the third 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 acquiring an additional 197,667 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after purchasing an additional 424,786 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 0.2 %

NYSE OC traded down $0.37 during trading on Monday, hitting $171.08. The company’s stock had a trading volume of 240,477 shares, compared to its average volume of 455,620. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53. The company has a market cap of $14.68 billion, a PE ratio of 14.56, a P/E/G ratio of 2.14 and a beta of 1.46. 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 business’s 50 day simple moving average is $187.98 and its 200-day simple moving average is $177.38.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the business earned $4.15 EPS. Owens Corning’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, equities analysts anticipate that Owens Corning will post 15.46 EPS 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 given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.61%. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, January 6th. Owens Corning’s dividend payout ratio is presently 23.49%.

Insiders Place Their Bets

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $195.00 to $225.00 in a research report on Tuesday, December 17th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. The Goldman Sachs Group raised their target price on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. UBS Group increased their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $192.00 to $245.00 in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.17.

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.