Carolina Wealth Advisors LLC Buys 113 Shares of Owens Corning (NYSE:OC)

Carolina Wealth Advisors LLC lifted its position in Owens Corning (NYSE:OC) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,427 shares of the construction company’s stock after acquiring an additional 113 shares during the quarter. Carolina Wealth Advisors LLC’s holdings in Owens Corning were worth $754,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Point72 Asset Management L.P. raised its position in Owens Corning by 168.3% in the second quarter. Point72 Asset Management L.P. now owns 741,262 shares of the construction company’s stock worth $128,772,000 after acquiring an additional 464,981 shares during the period. Pacer Advisors Inc. lifted its holdings in Owens Corning by 38.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,592,536 shares of the construction company’s stock worth $276,655,000 after purchasing an additional 446,073 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after acquiring an additional 424,786 shares during the period. Goldentree Asset Management LP bought a new position in Owens Corning in the 3rd quarter valued at $43,559,000. Finally, Nordea Investment Management AB grew its position in Owens Corning by 12.5% during the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after buying an additional 238,694 shares in the last quarter. 88.40% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on OC shares. Evercore ISI upped their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. UBS Group raised their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $192.00 to $245.00 in a research note on Wednesday, December 11th. The Goldman Sachs Group upped their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $195.00 to $225.00 in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $201.75.

Owens Corning Stock Up 2.7 %

Shares of OC stock opened at $179.36 on Thursday. The stock has a market cap of $15.39 billion, a P/E ratio of 15.26, a PEG ratio of 1.84 and a beta of 1.46. The company’s fifty day simple moving average is $186.40 and its two-hundred day simple moving average is $177.18. 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 has a 52 week low of $138.70 and a 52 week high of $214.53.

Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.15 EPS. Analysts predict that Owens Corning will post 15.46 EPS for the current fiscal year.

Owens Corning Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $2.76 annualized dividend and a yield of 1.54%. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio (DPR) is presently 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.