Norden Group LLC Purchases 74 Shares of Owens Corning (NYSE:OC)

Norden Group LLC raised its position in Owens Corning (NYSE:OC) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,224 shares of the construction company’s stock after purchasing an additional 74 shares during the period. Norden Group LLC’s holdings in Owens Corning were worth $208,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in shares of Owens Corning during the third quarter worth about $156,000. Stephens Inc. AR purchased a new position in Owens Corning in the 3rd quarter worth approximately $718,000. Farther Finance Advisors LLC increased its holdings in shares of Owens Corning by 115.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,686 shares of the construction company’s stock worth $474,000 after buying an additional 1,440 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in shares of Owens Corning by 10.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,269 shares of the construction company’s stock valued at $230,000 after buying an additional 122 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Owens Corning by 1.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 50,375 shares of the construction company’s stock worth $8,892,000 after acquiring an additional 835 shares during the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Gunner Smith sold 17,450 shares of the company’s 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 $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

OC has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research report on Tuesday. Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Monday. The Goldman Sachs Group upped their target price on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company lowered their price objective on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Finally, UBS Group reduced their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.18.

Owens Corning Price Performance

OC stock opened at $148.95 on Thursday. The stock has a market capitalization of $12.74 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.88 and a beta of 1.52. The firm’s 50-day moving average price is $174.41 and its two-hundred day moving average price is $178.71. 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 12-month low of $140.94 and a 12-month high of $214.53.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) 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 previous year, the business earned $3.21 EPS. Owens Corning’s revenue was up 23.3% compared to the same quarter last year. As a group, equities analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

About Owens Corning

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.