Corient Private Wealth LLC Grows Stock Position in Owens Corning (NYSE:OC)

Corient Private Wealth LLC grew its holdings in shares of Owens Corning (NYSE:OC) by 9.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,503 shares of the construction company’s stock after purchasing an additional 2,935 shares during the quarter. Corient Private Wealth LLC’s holdings in Owens Corning were worth $6,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. increased its position in shares of Owens Corning by 1.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,251 shares of the construction company’s stock valued at $1,576,000 after purchasing an additional 124 shares during the last quarter. Catalyst Funds Management Pty Ltd grew its stake in shares of Owens Corning by 36.4% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 3,000 shares of the construction company’s stock valued at $511,000 after acquiring an additional 800 shares during the period. LBP AM SA grew its stake in shares of Owens Corning by 2.1% during the 4th quarter. LBP AM SA now owns 23,876 shares of the construction company’s stock valued at $4,067,000 after acquiring an additional 490 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Owens Corning by 10.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 16,042 shares of the construction company’s stock valued at $2,732,000 after acquiring an additional 1,471 shares during the period. Finally, Avantax Advisory Services Inc. grew its stake in shares of Owens Corning by 3.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,430 shares of the construction company’s stock valued at $584,000 after acquiring an additional 104 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction 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 sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. UBS Group cut their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Barclays cut their price objective on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Citigroup dropped their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and an average target price of $204.18.

Owens Corning Stock Down 1.8 %

NYSE OC opened at $144.49 on Friday. 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 company has a market capitalization of $12.36 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a one year low of $137.50 and a one year high of $214.53. The stock has a 50 day moving average price of $167.56 and a 200-day moving average price of $176.53.

Owens Corning (NYSE:OC) last posted its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.21 EPS. As a group, equities analysts predict that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.91%. Owens Corning’s dividend payout ratio is currently 37.70%.

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.