CIBC Asset Management Inc Has $662,000 Stock Holdings in Owens Corning (NYSE:OC)

CIBC Asset Management Inc grew its position in shares of Owens Corning (NYSE:OC) by 10.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,884 shares of the construction company’s stock after purchasing an additional 371 shares during the period. CIBC Asset Management Inc’s holdings in Owens Corning were worth $662,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Global Trust Asset Management LLC acquired a new stake in shares of Owens Corning during the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB boosted its stake in shares of Owens Corning by 193.7% during the fourth 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 in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Owens Corning during the third quarter valued at about $38,000. Versant Capital Management Inc boosted its stake in shares of Owens Corning by 88.1% during the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after purchasing an additional 178 shares in the last quarter. Finally, Catalyst Capital Advisors LLC lifted its stake in shares of Owens Corning by 419.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 426 shares of the construction company’s stock worth $73,000 after acquiring an additional 344 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company’s 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction 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 sale, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OC shares. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $192.00 to $245.00 in a research note on Wednesday, December 11th. Evercore ISI lifted their price objective on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Loop Capital cut their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada lifted their target price on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their target price on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.30.

Owens Corning Trading Down 4.0 %

NYSE OC opened at $165.25 on Friday. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.88 and a beta of 1.46. Owens Corning has a 52 week low of $143.50 and a 52 week high of $214.53. The business has a 50 day moving average price of $177.43 and a 200-day moving average price of $178.78. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.67%. Owens Corning’s dividend payout ratio is 23.49%.

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.