Owens Corning (NYSE:OC) Shares Sold by Gries Financial LLC

Gries Financial LLC trimmed its stake in shares of Owens Corning (NYSE:OC) by 4.8% in the 4th quarter, HoldingsChannel reports. The firm owned 1,482 shares of the construction company’s stock after selling 75 shares during the period. Gries Financial LLC’s holdings in Owens Corning were worth $252,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of OC. Retirement Guys Formula LLC increased its stake in shares of Owens Corning by 3.1% during the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after buying an additional 58 shares during the period. PFG Investments LLC increased its position in shares of Owens Corning by 3.9% in the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after purchasing an additional 68 shares during the last quarter. Tobam raised its holdings in shares of Owens Corning by 38.0% in 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. First Bank & Trust lifted its position in shares of Owens Corning by 2.0% during the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock worth $646,000 after purchasing an additional 73 shares during the last quarter. Finally, KMG Fiduciary Partners LLC grew its stake in shares of Owens Corning by 1.5% during the third quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock worth $959,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Price Performance

Shares of NYSE:OC opened at $190.64 on Friday. Owens Corning has a one year low of $138.70 and a one year high of $214.53. The stock has a market capitalization of $16.35 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.05 and a beta of 1.46. The company has a 50-day simple moving average of $184.95 and a 200-day simple moving average of $178.48. 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 (NYSE:OC) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.05 by $0.33. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the business earned $4.15 EPS. The firm’s revenue was up 22.9% compared to the same quarter last year. On average, analysts predict that Owens Corning will post 15.47 EPS for the current year.

Owens Corning Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.45%. 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 (DPR) is 23.49%.

Insider Buying and Selling at Owens Corning

In other Owens Corning 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 owns 18,866 shares in the company, valued at approximately $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.89% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on OC shares. Wells Fargo & Company upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $195.00 to $225.00 in a research note on Tuesday, December 17th. 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 note on Monday, January 6th. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Evercore ISI boosted 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 report on Thursday, November 7th. Finally, StockNews.com raised shares of Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.75.

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.