Retirement Guys Formula LLC Boosts Stock Position in Owens Corning (NYSE:OC)

Retirement Guys Formula LLC lifted its position in shares of Owens Corning (NYSE:OC) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,999 shares of the construction company’s stock after purchasing an additional 60 shares during the period. Retirement Guys Formula LLC’s holdings in Owens Corning were worth $341,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Global Trust Asset Management LLC bought a new position in Owens Corning in the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB raised its stake in Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after buying an additional 122 shares in the last quarter. Brooklyn Investment Group bought a new position in Owens Corning in the third quarter worth about $38,000. Versant Capital Management Inc raised its stake in Owens Corning by 88.1% in the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after buying an additional 178 shares in the last quarter. Finally, NBC Securities Inc. raised its stake in Owens Corning by 85.3% in the third quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock worth $90,000 after buying an additional 237 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on OC. Citigroup decreased their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Loop Capital decreased their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Evercore ISI raised their target price on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $195.00 to $225.00 in a research note on Tuesday, December 17th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.75.

Owens Corning Trading Down 1.1 %

Shares of OC stock opened at $178.20 on Wednesday. Owens Corning has a 12-month low of $138.70 and a 12-month high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm’s 50 day moving average is $181.09 and its 200 day moving average is $178.79. The stock has a market capitalization of $15.29 billion, a P/E ratio of 15.17, a P/E/G ratio of 2.01 and a beta of 1.46.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is currently 23.49%.

Insider Buying and Selling

In other Owens Corning 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 transaction of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. The trade was a 13.07 % 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 corporate insiders.

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.