Impact Partnership Wealth LLC Takes Position in Owens Corning (NYSE:OC)

Impact Partnership Wealth LLC purchased a new position in Owens Corning (NYSE:OC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,843 shares of the construction company’s stock, valued at approximately $314,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Global Trust Asset Management LLC bought a new stake in Owens Corning in the fourth quarter worth $31,000. Brooklyn Investment Group bought a new position in Owens Corning in the 3rd quarter worth about $38,000. Quarry LP grew its position in Owens Corning by 165.5% during the 2nd quarter. Quarry LP now owns 231 shares of the construction company’s stock valued at $40,000 after purchasing an additional 144 shares during the last quarter. Tobam increased its stake in Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock valued at $47,000 after purchasing an additional 73 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in Owens Corning by 88.1% in the fourth quarter. Versant Capital Management Inc now owns 380 shares of the construction company’s stock worth $65,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OC shares. Loop Capital reduced their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. UBS Group boosted their price target on Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their price objective on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Citigroup decreased their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $192.00 to $245.00 in a report on Wednesday, December 11th. Five investment 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 stock has an average rating of “Moderate Buy” and a consensus price target of $201.75.

Owens Corning Trading Down 0.0 %

Shares of Owens Corning stock opened at $187.70 on Friday. Owens Corning has a 1-year low of $138.70 and a 1-year high of $214.53. The company’s fifty day simple moving average is $185.37 and its 200-day simple moving average is $177.96. 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 stock has a market capitalization of $16.10 billion, a PE ratio of 15.97, a P/E/G ratio of 2.05 and a beta of 1.46.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.33. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.04 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 22.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.15 earnings per share. As a group, equities analysts anticipate that Owens Corning will post 15.47 earnings per share for the current year.

Owens Corning Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.47%. This is a positive change from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, January 6th. Owens Corning’s dividend payout ratio is currently 23.49%.

Insiders Place Their Bets

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $191.19, for a total value of $3,336,265.50. Following the completion of the sale, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.89% of the stock is owned by company 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.