Owens Corning (NYSE:OC) Shares Sold by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC reduced its position in Owens Corning (NYSE:OC) by 18.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,391 shares of the construction company’s stock after selling 309 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Owens Corning were worth $237,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Global Trust Asset Management LLC purchased a new stake in Owens Corning during the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB lifted its stake in shares of Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after buying an additional 122 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Owens Corning during the third quarter valued at $38,000. Versant Capital Management Inc increased its position in shares of Owens Corning by 88.1% in the 4th quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock valued at $65,000 after acquiring an additional 178 shares during the period. Finally, NBC Securities Inc. raised its stake in Owens Corning by 85.3% in the 3rd quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock worth $90,000 after acquiring an additional 237 shares during the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Stock Down 1.1 %

Shares of OC opened at $178.20 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. The firm has a market cap of $15.29 billion, a P/E ratio of 15.17, a PEG ratio of 2.01 and a beta of 1.46. The stock’s 50 day moving average is $181.09 and its two-hundred day moving average is $178.79. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.55%. The ex-dividend date is Monday, March 10th. Owens Corning’s payout ratio is presently 23.49%.

Analyst Ratings Changes

Several research firms have weighed in on OC. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Citigroup dropped their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group raised their price target on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. UBS Group increased their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $195.00 to $225.00 in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.75.

Insiders Place Their Bets

In related news, 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 value of $3,336,265.50. Following the completion of the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company 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.