Owens Corning (NYSE:OC) Shares Purchased by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. increased its stake in shares of Owens Corning (NYSE:OC) by 7.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,006 shares of the construction company’s stock after acquiring an additional 359 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Owens Corning were worth $742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC increased its stake in Owens Corning by 28.4% in the fourth quarter. SVB Wealth LLC now owns 4,752 shares of the construction company’s stock valued at $704,000 after purchasing an additional 1,050 shares during the period. Voss Capital LLC acquired a new position in Owens Corning in the fourth quarter valued at $5,929,000. Oak Family Advisors LLC increased its stake in Owens Corning by 2.2% in the fourth quarter. Oak Family Advisors LLC now owns 8,027 shares of the construction company’s stock valued at $1,190,000 after purchasing an additional 176 shares during the period. Vontobel Holding Ltd. increased its stake in Owens Corning by 1.7% in the fourth quarter. Vontobel Holding Ltd. now owns 6,113 shares of the construction company’s stock valued at $906,000 after purchasing an additional 105 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new position in Owens Corning in the fourth quarter valued at $1,791,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Owens Corning

In related news, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the transaction, the chief executive officer now owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the transaction, the chief executive officer now owns 269,696 shares of the company’s stock, valued at $41,417,214.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gunner Smith sold 657 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $153.36, for a total transaction of $100,757.52. Following the transaction, the insider now directly owns 37,587 shares in the company, valued at approximately $5,764,342.32. The disclosure for this sale can be found here. Insiders have sold 21,672 shares of company stock valued at $3,325,799 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

Owens Corning Stock Down 0.2 %

Shares of NYSE OC opened at $163.54 on Wednesday. Owens Corning has a 12-month low of $98.00 and a 12-month high of $173.65. The company has a market capitalization of $14.23 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 1.17. The firm’s 50-day moving average is $157.35 and its two-hundred day moving average is $144.72.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, February 14th. The construction company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.39. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the firm earned $2.49 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts anticipate that Owens Corning will post 13.77 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, March 1st. Owens Corning’s dividend payout ratio (DPR) is presently 18.29%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays lowered shares of Owens Corning from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $170.00 to $160.00 in a research note on Monday, February 12th. Loop Capital boosted their price target on shares of Owens Corning from $167.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. dropped their price target on shares of Owens Corning from $164.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 20th. Royal Bank of Canada dropped their price target on shares of Owens Corning from $183.00 to $175.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Finally, Citigroup boosted their price target on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.14.

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.