EMG Holdings L.P. Takes Position in Owens Corning (NYSE:OC)

EMG Holdings L.P. bought a new position in shares of Owens Corning (NYSE:OC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 27,000 shares of the construction company’s stock, valued at approximately $4,599,000. Owens Corning makes up about 2.7% of EMG Holdings L.P.’s investment portfolio, making the stock its 4th biggest position.

Several other large investors also recently bought and sold shares of OC. FPC Investment Advisory Inc. purchased a new stake in shares of Owens Corning during the 4th quarter worth $28,000. Venturi Wealth Management LLC raised its stake in Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after buying an additional 63 shares in the last quarter. Global Trust Asset Management LLC purchased a new stake in Owens Corning during the 4th quarter worth about $31,000. Wilmington Savings Fund Society FSB boosted its position in shares of Owens Corning by 193.7% during the 4th 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 in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in shares of Owens Corning in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OC. Deutsche Bank Aktiengesellschaft started coverage on Owens Corning in a report on Tuesday. They issued a “buy” rating and a $183.00 price target for the company. Wells Fargo & Company lowered their target price on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Citigroup cut their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Barclays decreased their price objective on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Loop Capital cut their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.42.

Insider Transactions at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.82% of the company’s stock.

Owens Corning Price Performance

Owens Corning stock opened at $144.03 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The business has a 50 day simple moving average of $162.96 and a 200-day simple moving average of $176.11. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53. The stock has a market capitalization of $12.32 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 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 company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm earned $3.21 EPS. Owens Corning’s quarterly revenue was up 23.3% on a year-over-year basis. Equities analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

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 given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.92%. The ex-dividend date 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.