Owens Corning (NYSE:OC) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management increased its position in shares of Owens Corning (NYSE:OC) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,399 shares of the construction company’s stock after purchasing an additional 466 shares during the quarter. Ritholtz Wealth Management’s holdings in Owens Corning were worth $2,793,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OC. Brooklyn Investment Group acquired a new stake in shares of Owens Corning during the third quarter worth $38,000. Quarry LP boosted its stake in Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after acquiring an additional 144 shares during the period. Tobam grew its holdings in shares of Owens Corning by 38.0% during the third quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Owens Corning by 88.1% during the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after purchasing an additional 178 shares during the period. Finally, NBC Securities Inc. lifted its holdings in shares of Owens Corning by 85.3% in the 3rd quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock worth $90,000 after purchasing an additional 237 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

OC has been the subject of a number of recent research reports. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Loop Capital lowered their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. UBS Group lifted their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Citigroup decreased their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $195.00 to $225.00 in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.75.

Owens Corning Stock Performance

OC opened at $182.86 on Friday. The business has a 50 day moving average price of $186.08 and a two-hundred day moving average price of $177.30. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company has a market capitalization of $15.69 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.84 and a beta of 1.46. Owens Corning has a 1-year low of $138.70 and a 1-year high of $214.53.

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

Owens Corning Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, January 6th were given a dividend of $0.69 per share. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, January 6th. This represents a $2.76 annualized dividend and a dividend yield of 1.51%. Owens Corning’s dividend payout ratio (DPR) is 23.49%.

Insider Transactions at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

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.