Owens Corning (NYSE:OC) Shares Sold by WealthBridge Investment Counsel Inc.

WealthBridge Investment Counsel Inc. trimmed its position in Owens Corning (NYSE:OC) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,760 shares of the construction company’s stock after selling 250 shares during the quarter. Owens Corning accounts for approximately 2.3% of WealthBridge Investment Counsel Inc.’s portfolio, making the stock its 22nd largest holding. WealthBridge Investment Counsel Inc.’s holdings in Owens Corning were worth $6,261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of OC. Brooklyn Investment Group purchased a new stake in Owens Corning during the 3rd quarter worth $38,000. Quarry LP lifted its stake in shares of Owens Corning by 165.5% during the second quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after purchasing an additional 144 shares in the last quarter. Tobam boosted its position in shares of Owens Corning by 38.0% in the third quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after buying an additional 73 shares during the period. Versant Capital Management Inc grew its stake in shares of Owens Corning by 88.1% in the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after buying an additional 178 shares in the last quarter. Finally, NBC Securities Inc. raised its holdings in shares of Owens Corning by 85.3% during the 3rd quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock valued at $90,000 after buying an additional 237 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Trading Up 2.0 %

NYSE:OC opened at $182.86 on Friday. Owens Corning has a 52 week low of $138.70 and a 52 week 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 company has a market cap of $15.69 billion, a PE ratio of 15.56, a P/E/G ratio of 1.84 and a beta of 1.46. The business’s 50 day moving average is $186.08 and its two-hundred day moving average is $177.36.

Owens Corning (NYSE:OC) last released 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. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.15 earnings per share. On average, analysts predict that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were paid 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 yield of 1.51%. Owens Corning’s dividend payout ratio is 23.49%.

Insiders Place Their Bets

In related news, 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 transaction of $3,336,265.50. Following the completion of the transaction, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This represents a 48.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Loop Capital decreased their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. UBS Group upped their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Citigroup decreased their price objective 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 raised Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $195.00 to $225.00 in a research report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.75.

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.