Journey Strategic Wealth LLC Has $250,000 Stake in Owens Corning (NYSE:OC)

Journey Strategic Wealth LLC grew its holdings in Owens Corning (NYSE:OC) by 20.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,470 shares of the construction company’s stock after buying an additional 246 shares during the period. Journey Strategic Wealth LLC’s holdings in Owens Corning were worth $250,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Retirement Guys Formula LLC increased its stake in shares of Owens Corning by 3.1% during the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after purchasing an additional 58 shares during the period. PFG Investments LLC increased its stake in shares of 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 period. Tobam increased its stake in shares of Owens Corning by 38.0% during the third quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after purchasing an additional 73 shares during the period. First Bank & Trust increased its stake in shares of Owens Corning by 2.0% during the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock worth $646,000 after purchasing an additional 73 shares during the period. Finally, KMG Fiduciary Partners LLC increased its stake in shares of Owens Corning by 1.5% during the third quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock worth $959,000 after purchasing an additional 80 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OC has been the topic of a number of recent research reports. Loop Capital lowered their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Wells Fargo & Company upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $195.00 to $225.00 in a research note on Tuesday, December 17th. UBS Group raised their price objective on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.75.

Insider Activity at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction dated 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 directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is currently owned by company insiders.

Owens Corning Trading Down 2.4 %

Shares of OC opened at $180.20 on Tuesday. Owens Corning has a 52-week low of $138.70 and a 52-week high of $214.53. The business’s fifty day moving average is $183.97 and its 200-day moving average is $178.61. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market cap of $15.46 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 2.02 and a beta of 1.46.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the business posted $4.15 EPS. Owens Corning’s revenue for the quarter was up 22.9% on a year-over-year basis. Equities analysts anticipate 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. Investors of record on Monday, January 6th were issued a dividend of $0.69 per share. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, January 6th. This represents a $2.76 annualized dividend and a dividend yield of 1.53%. Owens Corning’s dividend payout ratio (DPR) is 23.49%.

Owens Corning 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.