Owens Corning (NYSE:OC) Shares Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. grew its stake in shares of Owens Corning (NYSE:OC) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,580 shares of the construction company’s stock after buying an additional 200 shares during the period. Hillsdale Investment Management Inc.’s holdings in Owens Corning were worth $780,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OC. Stratos Wealth Partners LTD. lifted its position in Owens Corning by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after buying an additional 53 shares in the last quarter. Greenleaf Trust boosted its holdings in Owens Corning by 1.5% in the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock worth $663,000 after purchasing an additional 56 shares during the period. Retirement Guys Formula LLC boosted its holdings in shares of Owens Corning by 3.1% in the 4th quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company’s stock valued at $341,000 after buying an additional 60 shares during the period. IFP Advisors Inc grew its holdings in shares of Owens Corning by 35.6% during the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company’s stock valued at $40,000 after purchasing an additional 62 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Owens Corning by 2.5% in the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company’s stock valued at $439,000 after buying an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OC. JPMorgan Chase & Co. decreased their target price on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Citigroup decreased their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Barclays lowered their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $212.00 price target on shares of Owens Corning in a research note on Monday, March 17th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.18.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.89% of the stock is currently owned by insiders.

Owens Corning Trading Down 1.8 %

Shares of NYSE:OC opened at $144.49 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The company has a 50-day simple moving average of $167.56 and a 200 day simple moving average of $176.76. The company has a market capitalization of $12.36 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. Owens Corning has a 52-week low of $137.50 and a 52-week high of $214.53.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the business posted $3.21 EPS. The business’s revenue was up 23.3% compared to the same quarter last year. Sell-side analysts forecast that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

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.