Quent Capital LLC Trims Position in Owens Corning (NYSE:OC)

Quent Capital LLC lessened its stake in shares of Owens Corning (NYSE:OC) by 94.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 481 shares of the construction company’s stock after selling 7,510 shares during the quarter. Quent Capital LLC’s holdings in Owens Corning were worth $82,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Global Trust Asset Management LLC purchased a new position in Owens Corning during the 4th quarter valued at about $31,000. Wilmington Savings Fund Society FSB grew its holdings in shares of Owens Corning by 193.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after purchasing an additional 122 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Owens Corning during the third quarter worth about $38,000. Versant Capital Management Inc grew its holdings in shares of Owens Corning by 88.1% during the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after purchasing an additional 178 shares in the last quarter. Finally, NBC Securities Inc. grew its holdings in shares of Owens Corning by 85.3% during the third quarter. NBC Securities Inc. now owns 515 shares of the construction company’s stock worth $90,000 after purchasing an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on OC shares. Citigroup cut their price objective on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. UBS Group boosted their price objective on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on Owens Corning from $178.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Evercore ISI boosted their target price on Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.75.

Insider Buying and Selling at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the business’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 transaction of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction 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 directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Owens Corning Stock Performance

Shares of OC stock opened at $176.12 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53. The stock has a 50 day moving average price of $180.55 and a two-hundred day moving average price of $178.77. The company has a market capitalization of $15.11 billion, a P/E ratio of 14.99, a PEG ratio of 2.01 and a beta of 1.46.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.57%. Owens Corning’s payout ratio is currently 23.49%.

About Owens Corning

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.