Avity Investment Management Inc. Has $222,000 Stake in Owens Corning (NYSE:OC)

Avity Investment Management Inc. lowered its holdings in shares of Owens Corning (NYSE:OCFree Report) by 25.1% during the fourth quarter, HoldingsChannel reports. The firm owned 1,495 shares of the construction company’s stock after selling 500 shares during the quarter. Avity Investment Management Inc.’s holdings in Owens Corning were worth $222,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its position in Owens Corning by 97.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 22,798 shares of the construction company’s stock valued at $3,110,000 after buying an additional 11,241 shares during the last quarter. New York Life Investment Management LLC raised its position in Owens Corning by 101.7% in the 3rd quarter. New York Life Investment Management LLC now owns 9,969 shares of the construction company’s stock valued at $1,360,000 after buying an additional 5,026 shares during the last quarter. Cambria Investment Management L.P. raised its position in Owens Corning by 7.5% in the 3rd quarter. Cambria Investment Management L.P. now owns 84,448 shares of the construction company’s stock valued at $11,520,000 after buying an additional 5,877 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Owens Corning by 0.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 41,121 shares of the construction company’s stock valued at $5,366,000 after buying an additional 340 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Owens Corning in the 3rd quarter valued at approximately $1,186,000. Institutional investors and hedge funds own 90.22% of the company’s stock.

Analysts Set New Price Targets

OC has been the subject of a number of analyst reports. UBS Group decreased their price target on Owens Corning from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. The Goldman Sachs Group raised their price target on Owens Corning from $130.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, December 14th. Deutsche Bank Aktiengesellschaft upgraded Owens Corning from a “hold” rating to a “buy” rating and raised their price target for the company from $130.00 to $180.00 in a research note on Friday, December 8th. Evercore ISI downgraded Owens Corning from an “outperform” rating to an “in-line” rating and decreased their price target for the company from $163.00 to $154.00 in a research note on Thursday, February 15th. Finally, Royal Bank of Canada decreased their price target on Owens Corning from $183.00 to $175.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Read Our Latest Stock Report on Owens Corning

Insider Buying and Selling at Owens Corning

In other news, CEO Brian Chambers sold 9,100 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total transaction of $1,397,487.00. Following the completion of the transaction, the chief executive officer now owns 269,696 shares of the company’s stock, valued at approximately $41,417,214.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Paula Russell sold 3,765 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $162.00, for a total transaction of $609,930.00. Following the completion of the transaction, the executive vice president now owns 20,419 shares of the company’s stock, valued at approximately $3,307,878. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Chambers sold 9,100 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $153.57, for a total value of $1,397,487.00. Following the transaction, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at approximately $41,417,214.72. The disclosure for this sale can be found here. Insiders sold 21,672 shares of company stock valued at $3,325,799 in the last three months. Corporate insiders own 0.90% of the company’s stock.

Owens Corning Stock Performance

OC traded up $1.65 during trading on Wednesday, hitting $160.55. The stock had a trading volume of 631,130 shares, compared to its average volume of 710,226. The company has a 50 day moving average price of $151.20 and a 200-day moving average price of $140.90. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 0.43 and a beta of 1.46. Owens Corning has a one year low of $89.60 and a one year high of $163.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 1.17.

Owens Corning (NYSE:OCGet Free Report) last released its quarterly earnings results on Wednesday, February 14th. The construction company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.39. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. Owens Corning had a return on equity of 25.88% and a net margin of 12.36%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $2.49 EPS. As a group, research analysts predict that Owens Corning will post 14.08 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Monday, March 4th will be issued a $0.60 dividend. The ex-dividend date is Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.49%. Owens Corning’s dividend payout ratio is presently 18.29%.

Owens Corning Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning (NYSE:OCFree Report).

Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.