Oak Family Advisors LLC Lowers Stake in Owens Corning (NYSE:OC)

Oak Family Advisors LLC cut its stake in Owens Corning (NYSE:OC) by 80.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,259 shares of the construction company’s stock after selling 5,164 shares during the quarter. Oak Family Advisors LLC’s holdings in Owens Corning were worth $214,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in OC. Alpha DNA Investment Management LLC boosted its holdings in Owens Corning by 147.4% in the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock worth $754,000 after acquiring an additional 2,544 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Owens Corning by 3.1% in the 3rd quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock worth $1,189,000 after purchasing an additional 200 shares in the last quarter. Penserra Capital Management LLC grew its position in Owens Corning by 53.3% during the 3rd quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock worth $832,000 after purchasing an additional 1,643 shares during the last quarter. Atria Investments Inc raised its holdings in shares of Owens Corning by 93.3% in the third quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after buying an additional 6,373 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in shares of Owens Corning in the 3rd quarter valued at $1,046,000. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Performance

Shares of OC opened at $184.57 on Monday. The company has a market capitalization of $15.83 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46. 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 stock has a 50 day moving average price of $184.59 and a 200 day moving average price of $178.57.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $3.04 billion. During the same period last year, the business earned $4.15 EPS. Owens Corning’s revenue for the quarter was up 22.9% compared to the same quarter last year. Research analysts predict that Owens Corning will post 15.49 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. Stockholders of record on Monday, January 6th were issued 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 dividend yield of 1.50%. The ex-dividend date was Monday, January 6th. Owens Corning’s dividend payout ratio is presently 23.49%.

Analyst Ratings Changes

OC has been the topic of several research reports. Loop Capital cut their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada raised their target price on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Citigroup cut 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 note on Monday, January 6th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, The Goldman Sachs Group increased their price target on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus price target of $201.75.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction that occurred on 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 transaction, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.90% 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.