Donald L. Hagan LLC Reduces Stock Position in Owens Corning (NYSE:OC)

Donald L. Hagan LLC trimmed its stake in Owens Corning (NYSE:OC) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,508 shares of the construction company’s stock after selling 456 shares during the period. Owens Corning accounts for about 1.0% of Donald L. Hagan LLC’s investment portfolio, making the stock its 17th biggest holding. Donald L. Hagan LLC’s holdings in Owens Corning were worth $1,960,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of OC. JPMorgan Chase & Co. lifted its position in shares of Owens Corning by 113.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after purchasing an additional 424,786 shares during the period. Pacer Advisors Inc. lifted its position in shares of Owens Corning by 16.4% in the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after purchasing an additional 261,564 shares during the period. Goldentree Asset Management LP purchased a new stake in shares of Owens Corning in the 3rd quarter worth about $43,559,000. Nordea Investment Management AB lifted its position in shares of Owens Corning by 12.5% in the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after purchasing an additional 238,694 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Owens Corning by 31.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock worth $145,455,000 after purchasing an additional 197,667 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on OC. Citigroup dropped their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Loop Capital dropped their price objective 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. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group lifted their target price on shares of Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Owens Corning has an average rating of “Moderate Buy” and an average price target of $201.75.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 in the company, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.89% of the stock is owned by corporate insiders.

Owens Corning Stock Up 1.8 %

OC opened at $190.64 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average price of $184.95 and a 200-day moving average price of $178.48. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The stock has a market capitalization of $16.35 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.04 and a beta of 1.46.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the company earned $4.15 earnings per share. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. Equities research analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Monday, January 6th were issued a dividend of $0.69 per share. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. This represents a $2.76 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Monday, January 6th. Owens Corning’s dividend payout ratio is currently 23.49%.

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.