USA Financial Formulas Has $206,000 Stake in Owens Corning (NYSE:OC)

USA Financial Formulas trimmed its holdings in shares of Owens Corning (NYSE:OC) by 16.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,207 shares of the construction company’s stock after selling 230 shares during the period. USA Financial Formulas’ holdings in Owens Corning were worth $206,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OC. Acadian Asset Management LLC acquired a new stake in Owens Corning during the 2nd quarter valued at $167,000. Envestnet Asset Management Inc. increased its stake in shares of Owens Corning by 60.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 189,309 shares of the construction company’s stock valued at $32,887,000 after buying an additional 71,164 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Owens Corning by 23.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 16,098 shares of the construction company’s stock valued at $2,796,000 after buying an additional 3,110 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Owens Corning by 4.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,431 shares of the construction company’s stock valued at $3,693,000 after buying an additional 978 shares during the period. Finally, Blair William & Co. IL acquired a new stake in shares of Owens Corning in the 2nd quarter valued at $239,000. 88.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on OC. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Loop Capital lowered their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. The Goldman Sachs Group lifted their target price on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $195.00 to $225.00 in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada lifted their target price on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Owens Corning has a consensus rating of “Moderate Buy” and a consensus price target of $201.75.

Owens Corning Stock Down 0.2 %

NYSE:OC opened at $179.09 on Friday. Owens Corning has a 12-month low of $138.70 and a 12-month high of $214.53. 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 capitalization of $15.36 billion, a P/E ratio of 15.24, a P/E/G ratio of 1.84 and a beta of 1.46. The stock’s fifty day simple moving average is $186.40 and its 200-day simple moving average is $177.18.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the company posted $4.15 earnings per share. Equities research analysts expect that Owens Corning will post 15.46 earnings per share for the current year.

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, January 6th will be issued a dividend of $0.69 per share. The ex-dividend date is Monday, January 6th. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.54%. Owens Corning’s payout ratio is currently 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.