Atomi Financial Group Inc. Purchases 233 Shares of Owens Corning (NYSE:OC)

Atomi Financial Group Inc. increased its holdings in shares of Owens Corning (NYSE:OC) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,161 shares of the construction company’s stock after acquiring an additional 233 shares during the period. Atomi Financial Group Inc.’s holdings in Owens Corning were worth $1,049,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OC. Alpha DNA Investment Management LLC grew its stake in shares of Owens Corning by 147.4% during the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after purchasing an additional 2,544 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Owens Corning by 3.1% during the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock worth $1,189,000 after buying an additional 200 shares in the last quarter. Penserra Capital Management LLC boosted its position in Owens Corning by 53.3% in the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after buying an additional 1,643 shares during the last quarter. Atria Investments Inc increased its stake in shares of Owens Corning by 93.3% in the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock valued at $2,330,000 after buying an additional 6,373 shares during the period. Finally, CWA Asset Management Group LLC bought a new stake in shares of Owens Corning during the third quarter worth $1,046,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Price Performance

Shares of OC opened at $187.53 on Thursday. The stock has a 50 day simple moving average of $185.64 and a 200 day simple moving average of $177.75. 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 quick ratio of 0.85 and a current ratio of 1.44. The firm has a market capitalization of $16.09 billion, a PE ratio of 15.96, a P/E/G ratio of 2.01 and a beta of 1.46.

Owens Corning (NYSE:OC) last released its quarterly 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. 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 quarter in the prior year, the company earned $4.15 earnings per share. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. Sell-side analysts predict that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, January 6th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.47%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, January 6th. Owens Corning’s payout ratio is 23.49%.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction that occurred on 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 sale, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on OC shares. Loop Capital lowered their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Evercore ISI lifted their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Citigroup reduced their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, The Goldman Sachs Group raised their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and an average price target of $201.75.

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.