R Squared Ltd Invests $158,000 in Owens Corning (NYSE:OC)

R Squared Ltd purchased a new stake in shares of Owens Corning (NYSE:OC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 930 shares of the construction company’s stock, valued at approximately $158,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC purchased a new position in Owens Corning in the 4th quarter valued at about $31,000. Brooklyn Investment Group acquired a new position in shares of Owens Corning in the third quarter worth about $38,000. Quarry LP boosted its holdings in Owens Corning by 165.5% in the second quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after purchasing an additional 144 shares during the last quarter. Tobam grew its stake in Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Owens Corning by 88.1% during the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after purchasing an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on OC shares. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Citigroup decreased their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Loop Capital cut their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada lifted their price target on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price objective on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $201.75.

Owens Corning Trading Down 2.1 %

Shares of NYSE OC opened at $187.22 on Thursday. Owens Corning has a 12-month low of $138.70 and a 12-month high of $214.53. The company has a market cap of $16.06 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 2.05 and a beta of 1.46. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock’s 50 day simple moving average is $185.09 and its 200 day simple moving average is $178.40.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period last year, the business posted $4.15 earnings per share. Equities research analysts expect that Owens Corning will post 15.47 EPS for the current year.

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were given a $0.69 dividend. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.76 annualized dividend and a yield of 1.47%. Owens Corning’s dividend payout ratio is 23.49%.

Insider Buying and Selling at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the firm’s 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 of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is owned by company insiders.

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.