Owens Corning (NYSE:OC) Stock Holdings Boosted by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC boosted its stake in Owens Corning (NYSE:OC) by 9.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,422 shares of the construction company’s stock after buying an additional 125 shares during the period. Lake Street Advisors Group LLC’s holdings in Owens Corning were worth $242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Stratos Wealth Partners LTD. grew its position in Owens Corning by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after buying an additional 53 shares in the last quarter. Greenleaf Trust grew its position in Owens Corning by 1.5% in the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after buying an additional 56 shares in the last quarter. Retirement Guys Formula LLC grew its position in Owens Corning by 3.1% in the 4th quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock valued at $341,000 after buying an additional 60 shares in the last quarter. IFP Advisors Inc lifted its holdings in Owens Corning by 35.6% in the 4th quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after acquiring an additional 62 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Owens Corning by 55.8% in the 4th quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Insider Transactions at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

OC has been the subject of a number of research analyst reports. Loop Capital cut their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. UBS Group cut their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday. Evercore ISI upped their price target on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Royal Bank of Canada cut their price target on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $207.00.

Owens Corning Price Performance

OC stock opened at $153.96 on Friday. 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 one year low of $148.78 and a one year high of $214.53. The firm has a market capitalization of $13.21 billion, a PE ratio of 13.10, a P/E/G ratio of 1.88 and a beta of 1.46. The firm has a 50-day moving average of $175.41 and a two-hundred day moving average of $178.64.

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

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is 23.49%.

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.