Owens Corning (NYSE:OC) Position Raised by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC increased its position in shares of Owens Corning (NYSE:OC) by 419.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 426 shares of the construction company’s stock after purchasing an additional 344 shares during the period. Catalyst Capital Advisors LLC’s holdings in Owens Corning were worth $73,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OC. Global Trust Asset Management LLC bought a new position in shares of Owens Corning in the fourth quarter valued at $31,000. Wilmington Savings Fund Society FSB increased 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 buying an additional 122 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Owens Corning in the third quarter valued at $38,000. Versant Capital Management Inc increased its holdings in shares of Owens Corning by 88.1% in 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 in the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of Owens Corning by 44.8% in the third quarter. Private Trust Co. NA now owns 566 shares of the construction company’s stock valued at $100,000 after buying an additional 175 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE:OC opened at $177.58 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 1 year low of $138.70 and a 1 year high of $214.53. The business has a fifty day simple moving average of $178.88 and a 200 day simple moving average of $178.70. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 2.01 and a beta of 1.46.

Owens Corning Dividend Announcement

The company also recently disclosed 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 is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.55%. Owens Corning’s dividend payout ratio is 23.49%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OC. Royal Bank of Canada upped their price target on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. UBS Group increased their target price on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Evercore ISI increased their target price on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. Finally, Wells Fargo & Company upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average target price of $206.91.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction 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 of the company’s stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gunner Smith sold 17,450 shares of the stock in a transaction 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 directly 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 disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

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.