44 Wealth Management LLC Has $1.67 Million Holdings in Owens Corning (NYSE:OC)

44 Wealth Management LLC decreased its position in shares of Owens Corning (NYSE:OC) by 10.4% in the 4th quarter, Holdings Channel reports. The fund owned 9,807 shares of the construction company’s stock after selling 1,140 shares during the quarter. 44 Wealth Management LLC’s holdings in Owens Corning were worth $1,670,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in shares of Owens Corning by 113.9% in the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after acquiring an additional 424,786 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Owens Corning by 16.4% in the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after purchasing an additional 261,564 shares in the last quarter. Goldentree Asset Management LP purchased a new stake in Owens Corning during the third quarter valued at about $43,559,000. Nordea Investment Management AB raised its holdings in Owens Corning by 12.5% during 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 buying an additional 238,694 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Owens Corning by 31.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock valued at $145,455,000 after purchasing an additional 197,667 shares during the last quarter. 88.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OC. Royal Bank of Canada increased their price objective on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Evercore ISI boosted their price target on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” 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 increased their price objective for the company from $195.00 to $225.00 in a research report on Tuesday, December 17th. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Finally, Loop Capital reduced 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 note on Friday, January 10th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $211.30.

Owens Corning Stock Performance

Shares of NYSE:OC opened at $165.25 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a 52 week low of $143.50 and a 52 week high of $214.53. The firm has a fifty day simple moving average of $177.43 and a two-hundred day simple moving average of $178.63. The stock has a market capitalization of $14.17 billion, a P/E ratio of 14.06, a PEG ratio of 1.88 and a beta of 1.46.

Owens Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.67%. Owens Corning’s payout ratio is 23.49%.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

About Owens Corning

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.