Truvestments Capital LLC Acquires 1,209 Shares of Owens Corning (NYSE:OC)

Truvestments Capital LLC increased its stake in Owens Corning (NYSE:OC) by 26.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,752 shares of the construction company’s stock after buying an additional 1,209 shares during the period. Truvestments Capital LLC’s holdings in Owens Corning were worth $980,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in shares of Owens Corning in the fourth quarter worth approximately $28,000. Venturi Wealth Management LLC increased its stake in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after buying an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new position in Owens Corning during the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB boosted its holdings in shares of 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 buying an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in shares of Owens Corning during the fourth quarter valued at about $34,000. Institutional investors own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning 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 in the company, valued at approximately $2,140,490.95. This represents 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 owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on OC shares. Wells Fargo & Company lowered their price target on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Benchmark restated a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Citigroup reduced their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada reduced their price target on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. Finally, Barclays dropped their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.18.

Owens Corning Price Performance

NYSE:OC opened at $139.62 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a market cap of $11.94 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53. The company’s 50-day moving average price is $171.71 and its two-hundred day moving average price is $177.99.

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

Owens Corning Dividend Announcement

The firm 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 $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio is presently 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.