Owens Corning (NYSE:OC) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in shares of Owens Corning (NYSE:OC) by 10.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,884 shares of the construction company’s stock after acquiring an additional 371 shares during the quarter. CIBC Asset Management Inc’s holdings in Owens Corning were worth $662,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OC. Global Trust Asset Management LLC purchased a new stake in shares of Owens Corning in the fourth quarter valued at about $31,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock valued at $32,000 after purchasing an additional 122 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Owens Corning during the third quarter valued at approximately $38,000. Versant Capital Management Inc lifted its stake in shares of Owens Corning by 88.1% during 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 during the period. Finally, Catalyst Capital Advisors LLC raised its stake in Owens Corning by 419.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 426 shares of the construction company’s stock worth $73,000 after purchasing an additional 344 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated 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 directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Stock Down 4.0 %

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 12-month low of $143.50 and a 12-month high of $214.53. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46. The firm’s 50-day simple moving average is $177.43 and its 200 day simple moving average is $178.78.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.67%. Owens Corning’s payout ratio is presently 23.49%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Citigroup reduced their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Loop Capital reduced their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Evercore ISI increased their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company upgraded shares of 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 note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $211.30.

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.