Handelsbanken Fonder AB Grows Holdings in Owens Corning (NYSE:OC)

Handelsbanken Fonder AB grew its position in shares of Owens Corning (NYSE:OC) by 13.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 25,100 shares of the construction company’s stock after buying an additional 3,000 shares during the period. Handelsbanken Fonder AB’s holdings in Owens Corning were worth $4,275,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Stratos Wealth Partners LTD. grew its stake in shares of Owens Corning by 4.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock worth $221,000 after purchasing an additional 53 shares during the period. Greenleaf Trust boosted its stake in shares of Owens Corning by 1.5% during the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock worth $663,000 after purchasing an additional 56 shares during the last quarter. Retirement Guys Formula LLC boosted its stake in shares of Owens Corning by 3.1% during the 4th quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock worth $341,000 after purchasing an additional 60 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Owens Corning by 55.8% during the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares during the last quarter. Finally, PFG Investments LLC boosted its stake in shares of Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on OC shares. UBS Group raised their price target on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Evercore ISI increased their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Citigroup cut their price objective 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. Finally, Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.30.

Insider Activity at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 shares were 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 $2,140,490.95. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Owens Corning Trading Down 4.0 %

NYSE OC opened at $165.25 on Monday. Owens Corning has a one year low of $143.50 and a one year high of $214.53. The company’s 50 day moving average price is $177.43 and its 200 day moving average price is $178.95. 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 firm has a market capitalization of $14.17 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.88 and a beta of 1.46.

Owens Corning Dividend Announcement

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

Owens Corning Company 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.