Gallacher Capital Management LLC Invests $216,000 in Owens Corning (NYSE:OC)

Gallacher Capital Management LLC purchased a new position in Owens Corning (NYSE:OC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,269 shares of the construction company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Corient Private Wealth LLC grew its holdings in Owens Corning by 9.0% during the fourth quarter. Corient Private Wealth LLC now owns 35,503 shares of the construction company’s stock valued at $6,047,000 after purchasing an additional 2,935 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Owens Corning by 1.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,251 shares of the construction company’s stock valued at $1,576,000 after purchasing an additional 124 shares during the last quarter. Catalyst Funds Management Pty Ltd boosted its stake in shares of Owens Corning by 36.4% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 3,000 shares of the construction company’s stock worth $511,000 after purchasing an additional 800 shares during the period. LBP AM SA lifted its stake in shares of Owens Corning by 2.1% during the 4th quarter. LBP AM SA now owns 23,876 shares of the construction company’s stock worth $4,067,000 after acquiring an additional 490 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in Owens Corning by 10.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 16,042 shares of the construction company’s stock worth $2,732,000 after buying an additional 1,471 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling

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 transaction of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.89% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wells Fargo & Company cut their target price on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Barclays dropped their target price on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. UBS Group dropped their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Finally, Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.18.

Owens Corning Price Performance

Shares of NYSE OC opened at $144.09 on Monday. 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 market cap of $12.33 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.88 and a beta of 1.52. The firm’s 50-day simple moving average is $169.96 and its 200 day simple moving average is $177.43. Owens Corning has a fifty-two week low of $137.50 and a fifty-two week high of $214.53.

Owens Corning (NYSE:OC) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the company earned $3.21 EPS. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. Equities analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is currently 37.70%.

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.