44 Wealth Management LLC Sells 1,140 Shares of Owens Corning (NYSE:OC)

44 Wealth Management LLC decreased its holdings in shares of Owens Corning (NYSE:OC) by 10.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 9,807 shares of the construction company’s stock after selling 1,140 shares during the period. 44 Wealth Management LLC’s holdings in Owens Corning were worth $1,670,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Alpha DNA Investment Management LLC raised its position in shares of Owens Corning by 147.4% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after acquiring an additional 2,544 shares during the period. Janus Henderson Group PLC raised its holdings in Owens Corning by 3.1% in the third quarter. Janus Henderson Group PLC now owns 6,744 shares of the construction company’s stock worth $1,189,000 after purchasing an additional 200 shares during the period. Penserra Capital Management LLC boosted its position in shares of Owens Corning by 53.3% during the third quarter. Penserra Capital Management LLC now owns 4,726 shares of the construction company’s stock worth $832,000 after purchasing an additional 1,643 shares in the last quarter. Atria Investments Inc grew its holdings in shares of Owens Corning by 93.3% in the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock valued at $2,330,000 after buying an additional 6,373 shares during the period. Finally, CWA Asset Management Group LLC bought a new stake in shares of Owens Corning in the 3rd quarter valued at $1,046,000. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OC. Barclays upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $192.00 to $245.00 in a report on Wednesday, December 11th. Evercore ISI boosted their price target on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Citigroup decreased 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. Loop Capital dropped their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $195.00 to $225.00 in a research report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.30.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction 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. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the sale, 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 disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Owens Corning Price Performance

Shares of NYSE OC opened at $165.25 on Friday. Owens Corning has a twelve month low of $143.50 and a twelve month high of $214.53. The business’s 50 day moving average price is $177.43 and its two-hundred day moving average price is $178.63. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company has a market cap of $14.17 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46.

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 paid a dividend of $0.69 per share. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.67%. Owens Corning’s dividend payout ratio (DPR) 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.