Vest Financial LLC Acquires 5,870 Shares of Owens Corning (NYSE:OC)

Vest Financial LLC lifted its holdings in shares of Owens Corning (NYSE:OC) by 69.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,355 shares of the construction company’s stock after purchasing an additional 5,870 shares during the period. Vest Financial LLC’s holdings in Owens Corning were worth $2,445,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of OC. Alpha DNA Investment Management LLC boosted its stake in shares of Owens Corning by 147.4% in the 3rd 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% in the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock valued at $1,189,000 after buying an additional 200 shares during the period. Penserra Capital Management LLC boosted its position in Owens Corning by 53.3% during the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock valued at $832,000 after acquiring an additional 1,643 shares during the last quarter. Atria Investments Inc grew its holdings in Owens Corning by 93.3% during the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after acquiring an additional 6,373 shares during the period. Finally, CWA Asset Management Group LLC bought a new position in shares of Owens Corning in the 3rd quarter worth about $1,046,000. Institutional investors own 88.40% of the company’s stock.

Insiders Place Their Bets

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company’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 value of $321,947.50. Following the completion of the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, the insider now 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 disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Owens Corning Price Performance

OC stock opened at $181.06 on Friday. 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 business has a 50-day simple moving average of $182.04 and a two-hundred day simple moving average of $178.74. The company has a market capitalization of $15.53 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46.

Owens Corning (NYSE:OC) last issued its quarterly earnings data 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 return on equity of 25.82% and a net margin of 9.92%. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the business earned $4.15 EPS. The business’s revenue was up 22.9% on a year-over-year basis. Research analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OC. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $192.00 to $245.00 in a research note on Wednesday, December 11th. UBS Group raised their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted 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. Evercore ISI raised their price target on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, Loop Capital dropped their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $201.75.

Owens Corning Company 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.