Gries Financial LLC Decreases Stock Holdings in Owens Corning (NYSE:OC)

Gries Financial LLC lessened its stake in Owens Corning (NYSE:OC) by 4.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,482 shares of the construction company’s stock after selling 75 shares during the quarter. Gries Financial LLC’s holdings in Owens Corning were worth $252,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC purchased a new stake in shares of Owens Corning during the fourth quarter worth about $31,000. Brooklyn Investment Group acquired a new stake in Owens Corning in the 3rd quarter worth about $38,000. Quarry LP increased its stake in Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock worth $40,000 after buying an additional 144 shares in the last quarter. Tobam raised its holdings in shares of Owens Corning by 38.0% during the third quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after acquiring an additional 73 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Owens Corning by 88.1% in the fourth 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 in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Price Performance

NYSE:OC opened at $190.64 on Friday. Owens Corning has a 52 week low of $138.70 and a 52 week high of $214.53. The stock’s fifty day moving average is $184.95 and its two-hundred day moving average is $178.48. The company has a market capitalization of $16.35 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.05 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

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

Owens Corning Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were given a dividend of $0.69 per share. The ex-dividend date was Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

Insider Activity at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.89% of the stock is owned by insiders.

Analysts Set New Price Targets

OC has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. UBS Group increased their target price on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Loop Capital dropped their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 10th. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Finally, Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $192.00 to $245.00 in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Owens Corning currently has a consensus rating of “Moderate Buy” and an average target price of $201.75.

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.