Skylands Capital LLC Sells 670 Shares of Owens Corning (NYSE:OC)

Skylands Capital LLC trimmed its holdings in Owens Corning (NYSE:OC) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,225 shares of the construction company’s stock after selling 670 shares during the period. Owens Corning comprises about 2.1% of Skylands Capital LLC’s holdings, making the stock its 11th largest position. Skylands Capital LLC owned approximately 0.10% of Owens Corning worth $15,026,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new position in Owens Corning during the fourth quarter worth about $28,000. Venturi Wealth Management LLC raised 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 acquiring an additional 63 shares during the period. Global Trust Asset Management LLC bought a new stake in Owens Corning in the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB raised its position in Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after acquiring an additional 122 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Owens Corning in the third quarter valued at approximately $38,000. 88.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OC. Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $195.00 to $225.00 in a report on Tuesday, December 17th. Citigroup cut their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group upped their price objective 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. Royal Bank of Canada increased their price target on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Evercore ISI increased their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.30.

Owens Corning Stock Down 4.0 %

NYSE OC opened at $165.25 on Monday. The firm has a market capitalization of $14.17 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.88 and a beta of 1.46. Owens Corning has a 52 week low of $143.50 and a 52 week high of $214.53. 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 company has a fifty day moving average of $177.43 and a two-hundred day moving average of $178.95.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. 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 dividend payout ratio is currently 23.49%.

Insider Activity

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

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.