Owens Corning (NYSE:OC) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its holdings in Owens Corning (NYSE:OC) by 13.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,100 shares of the construction company’s stock after buying an additional 3,000 shares during the period. Handelsbanken Fonder AB’s holdings in Owens Corning were worth $4,275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of OC. Creative Planning raised its position in shares of Owens Corning by 16.4% in the third quarter. Creative Planning now owns 9,789 shares of the construction company’s stock valued at $1,728,000 after buying an additional 1,379 shares during the last quarter. Blue Trust Inc. raised its position in shares of Owens Corning by 199.2% in the third quarter. Blue Trust Inc. now owns 1,098 shares of the construction company’s stock valued at $191,000 after buying an additional 731 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Owens Corning in the third quarter valued at about $156,000. Forsta AP Fonden increased its position in Owens Corning by 18.6% during the third quarter. Forsta AP Fonden now owns 24,900 shares of the construction company’s stock worth $4,395,000 after purchasing an additional 3,900 shares during the last quarter. Finally, PFG Investments LLC increased its position in Owens Corning by 3.9% during the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock worth $323,000 after purchasing an additional 68 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Owens Corning Price Performance

Shares of OC opened at $165.25 on Monday. The firm has a 50-day simple moving average of $177.43 and a two-hundred day simple moving average of $178.95. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a 1-year low of $143.50 and a 1-year high of $214.53. The stock has a market cap of $14.17 billion, a PE ratio of 14.06, a P/E/G ratio of 1.88 and a beta of 1.46.

Owens Corning Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on OC shares. StockNews.com upgraded shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Loop Capital cut their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. The Goldman Sachs Group raised their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, UBS Group raised 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. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.