Owens Corning (NYSE:OC) Shares Sold by Financial Partners Group LLC

Financial Partners Group LLC lowered its stake in shares of Owens Corning (NYSE:OC) by 5.2% during the fourth quarter, Holdings Channel reports. The firm owned 8,253 shares of the construction company’s stock after selling 453 shares during the period. Financial Partners Group LLC’s holdings in Owens Corning were worth $1,406,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after buying an additional 424,786 shares during the period. Pacer Advisors Inc. grew its position in shares of Owens Corning by 16.4% during the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after acquiring an additional 261,564 shares during the last quarter. Goldentree Asset Management LP acquired a new position in shares of Owens Corning in the 3rd quarter valued at $43,559,000. Nordea Investment Management AB raised its position in Owens Corning by 12.5% in the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock valued at $366,166,000 after purchasing an additional 238,694 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new position in Owens Corning during the 2nd quarter worth $35,970,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on OC. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Loop Capital reduced their price objective 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. 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. The Goldman Sachs Group upped their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.75.

Insider Buying and Selling

In related news, insider Gunner Smith sold 17,450 shares of the 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 sale, the insider now directly owns 18,866 shares of the company’s stock, 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 available at this hyperlink. 0.89% of the stock is currently owned by insiders.

Owens Corning Price Performance

Shares of NYSE OC opened at $187.82 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a one year low of $138.70 and a one year high of $214.53. The firm has a market capitalization of $16.11 billion, a P/E ratio of 15.98, a PEG ratio of 2.05 and a beta of 1.46. The company’s fifty day moving average is $185.49 and its two-hundred day moving average is $177.82.

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. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm 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 firm earned $4.15 earnings per share. The firm’s revenue was up 22.9% on a year-over-year basis. Analysts forecast that Owens Corning will post 15.47 EPS for the current fiscal year.

Owens Corning Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were paid a $0.69 dividend. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Monday, January 6th. Owens Corning’s dividend payout ratio (DPR) is presently 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.