Transcend Capital Advisors LLC Sells 83 Shares of Owens Corning (NYSE:OC)

Transcend Capital Advisors LLC lessened its holdings in Owens Corning (NYSE:OC) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,568 shares of the construction company’s stock after selling 83 shares during the period. Transcend Capital Advisors LLC’s holdings in Owens Corning were worth $437,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Handelsbanken Fonder AB increased its position in Owens Corning by 13.6% in the fourth quarter. Handelsbanken Fonder AB now owns 25,100 shares of the construction company’s stock worth $4,275,000 after purchasing an additional 3,000 shares during the last quarter. Global Retirement Partners LLC increased its position in Owens Corning by 35.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,129 shares of the construction company’s stock worth $192,000 after purchasing an additional 297 shares during the last quarter. Bank of Jackson Hole Trust bought a new stake in Owens Corning in the fourth quarter worth $50,000. Atria Wealth Solutions Inc. increased its position in Owens Corning by 16.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,759 shares of the construction company’s stock worth $640,000 after purchasing an additional 521 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Insider Transactions at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This represents a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup cut their price objective on shares of 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 boosted their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Loop Capital cut 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 report on Friday, January 10th. Finally, UBS Group boosted their price objective 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. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.30.

Owens Corning Trading Down 4.0 %

NYSE OC opened at $165.25 on Friday. The company’s 50-day moving average price is $177.43 and its 200-day moving average price is $178.78. 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 stock has a market cap of $14.17 billion, a PE ratio of 14.06, a PEG ratio of 1.88 and a beta of 1.46. Owens Corning has a 12 month low of $143.50 and a 12 month high of $214.53.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is presently 23.49%.

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.