Paradiem LLC Has $3.67 Million Position in Owens Corning (NYSE:OC)

Paradiem LLC reduced its holdings in shares of Owens Corning (NYSE:OC) by 67.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,533 shares of the construction company’s stock after selling 43,746 shares during the period. Paradiem LLC’s holdings in Owens Corning were worth $3,668,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Global Trust Asset Management LLC acquired a new stake in shares of Owens Corning during the 4th quarter valued at about $31,000. Nisa Investment Advisors LLC boosted its position in shares of Owens Corning by 103.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 24,251 shares of the construction company’s stock valued at $4,130,000 after acquiring an additional 12,358 shares in the last quarter. Atomi Financial Group Inc. boosted its position in shares of Owens Corning by 3.9% during the 4th quarter. Atomi Financial Group Inc. now owns 6,161 shares of the construction company’s stock valued at $1,049,000 after acquiring an additional 233 shares in the last quarter. Transform Wealth LLC boosted its position in shares of Owens Corning by 7.2% during the 4th quarter. Transform Wealth LLC now owns 47,510 shares of the construction company’s stock valued at $8,092,000 after acquiring an additional 3,196 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Owens Corning by 3.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 6,770 shares of the construction company’s stock valued at $1,153,000 after acquiring an additional 243 shares in the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OC. Citigroup cut their price target 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. StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Wells Fargo & Company raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $195.00 to $225.00 in a report on Tuesday, December 17th. Evercore ISI lifted their price target on shares of Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $201.75.

Owens Corning Trading Up 0.1 %

Shares of NYSE OC opened at $187.53 on Thursday. Owens Corning has a 1-year low of $138.70 and a 1-year high of $214.53. The company has a market cap of $16.09 billion, a PE ratio of 15.96, a P/E/G ratio of 2.06 and a beta of 1.46. 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 50-day moving average of $185.64 and a two-hundred day moving average of $177.75.

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

Owens Corning Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, January 6th were given a dividend of $0.69 per share. This is a boost from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.76 annualized dividend and a dividend yield of 1.47%. Owens Corning’s payout ratio is currently 23.49%.

Insider Transactions at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the transaction, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is owned by corporate insiders.

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.