Lake Street Advisors Group LLC Has $242,000 Stock Holdings in Owens Corning (NYSE:OC)

Lake Street Advisors Group LLC raised its stake in shares of Owens Corning (NYSE:OC) by 9.6% during the 4th quarter, HoldingsChannel reports. The firm owned 1,422 shares of the construction company’s stock after purchasing an additional 125 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Owens Corning were worth $242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC grew its holdings in Owens Corning by 39.7% during the fourth quarter. MorganRosel Wealth Management LLC now owns 4,812 shares of the construction company’s stock valued at $820,000 after purchasing an additional 1,368 shares during the last quarter. IFP Advisors Inc grew its holdings in 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. South Dakota Investment Council grew its holdings in Owens Corning by 5.7% during the fourth quarter. South Dakota Investment Council now owns 18,456 shares of the construction company’s stock valued at $3,143,000 after purchasing an additional 1,000 shares during the last quarter. FPC Investment Advisory Inc. acquired a new position in Owens Corning during the fourth quarter valued at approximately $28,000. Finally, Handelsbanken Fonder AB grew its holdings in Owens Corning by 13.6% during the fourth quarter. Handelsbanken Fonder AB now owns 25,100 shares of the construction company’s stock valued at $4,275,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wells Fargo & Company lowered their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup lowered their price objective 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. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group lowered their price objective on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Evercore ISI raised their price objective on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Owens Corning has an average rating of “Moderate Buy” and an average target price of $207.00.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction 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 completion of the transaction, the insider now directly owns 18,866 shares of the company’s stock, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares of the company’s stock, 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. Company insiders own 0.90% of the company’s stock.

Owens Corning Stock Up 1.2 %

Shares of OC stock opened at $153.96 on Friday. The stock has a market cap of $13.21 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46. Owens Corning has a one year low of $148.78 and a one year high of $214.53. The stock has a fifty day moving average price of $175.41 and a 200 day moving average price of $178.64. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85.

Owens Corning (NYSE:OC) last issued its earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. Owens Corning’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the business earned $3.21 earnings per share. Analysts predict that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

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 issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.79%. Owens Corning’s payout ratio is presently 23.49%.

Owens Corning 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.