USA Financial Formulas Has $206,000 Stake in Owens Corning (NYSE:OC)

USA Financial Formulas decreased its position in Owens Corning (NYSE:OC) by 16.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,207 shares of the construction company’s stock after selling 230 shares during the quarter. USA Financial Formulas’ holdings in Owens Corning were worth $206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in shares of Owens Corning by 4.7% in the 3rd quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock valued at $738,104,000 after purchasing an additional 187,001 shares during the period. Nordea Investment Management AB raised its holdings in Owens Corning by 12.5% during the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock worth $366,166,000 after acquiring an additional 238,694 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Owens Corning by 16.4% during the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after acquiring an additional 261,564 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Owens Corning by 31.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock worth $145,455,000 after acquiring an additional 197,667 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after acquiring an additional 424,786 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Evercore ISI upped their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Wells Fargo & Company upgraded 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 dropped their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, The Goldman Sachs Group upped 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. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.75.

Insider Activity

In other news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by company insiders.

Owens Corning Price Performance

Owens Corning stock opened at $179.09 on Friday. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53. The stock’s 50 day moving average is $186.40 and its 200-day moving average is $177.18. 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 company has a market capitalization of $15.36 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 1.84 and a beta of 1.46.

Owens Corning (NYSE:OC) last posted its earnings results on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the business earned $4.15 earnings per share. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. Equities research analysts expect that Owens Corning will post 15.46 EPS for the current year.

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, January 6th will be given a $0.69 dividend. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, January 6th. This represents a $2.76 annualized dividend and a dividend yield of 1.54%. Owens Corning’s dividend 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.