Owens Corning (NYSE:OC) Shares Sold by Empowered Funds LLC

Empowered Funds LLC lessened its holdings in shares of Owens Corning (NYSE:OC) by 81.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,204 shares of the construction company’s stock after selling 150,697 shares during the period. Empowered Funds LLC’s holdings in Owens Corning were worth $5,996,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning during the fourth quarter valued at $31,000. Wilmington Savings Fund Society FSB lifted its position in Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after purchasing an additional 122 shares during the last quarter. Brooklyn Investment Group acquired a new position in Owens Corning during the 3rd quarter valued at about $38,000. Versant Capital Management Inc grew its position in Owens Corning by 88.1% in the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after purchasing an additional 178 shares during the last quarter. Finally, NBC Securities Inc. increased its stake in shares of Owens Corning by 85.3% in the third quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock valued at $90,000 after purchasing an additional 237 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on OC. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Royal Bank of Canada boosted their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Loop Capital lowered their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $195.00 to $225.00 in a report on Tuesday, December 17th. Finally, 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. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average price target of $201.75.

Owens Corning Stock Down 0.6 %

NYSE OC opened at $179.95 on Tuesday. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53. The company has a market capitalization of $15.44 billion, a P/E ratio of 15.31, a PEG ratio of 2.01 and a beta of 1.46. The company’s 50 day simple moving average is $181.58 and its 200 day simple moving average is $178.80. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

Owens Corning Dividend Announcement

The business also recently disclosed 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 1.53%. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

Insider Transactions at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction that occurred on Friday, December 13th. The stock was 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 in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

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.