Transcend Capital Advisors LLC Lowers Position in Owens Corning (NYSE:OC)

Transcend Capital Advisors LLC trimmed its position in shares of Owens Corning (NYSE:OC) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,568 shares of the construction company’s stock after selling 83 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Owens Corning were worth $437,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Handelsbanken Fonder AB lifted its position in shares of 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 buying an additional 3,000 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Owens Corning by 35.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,129 shares of the construction company’s stock valued at $192,000 after buying an additional 297 shares during the last quarter. Bank of Jackson Hole Trust purchased a new stake in shares of Owens Corning during the fourth quarter valued at about $50,000. Atria Wealth Solutions Inc. lifted its position in shares of Owens Corning by 16.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,759 shares of the construction company’s stock valued at $640,000 after buying an additional 521 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock valued at $30,000 after buying an additional 63 shares during the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on OC. Royal Bank of Canada increased their price target on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. UBS Group increased their price objective on shares of Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Loop Capital decreased their price objective 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. The Goldman Sachs Group increased their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $192.00 to $245.00 in a research report on Wednesday, December 11th. Three research 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, Owens Corning has a consensus rating of “Moderate Buy” and an average price target of $211.30.

Insider Buying and Selling

In other news, insider Gunner Smith sold 17,450 shares of the firm’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 sale, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate 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 company’s 50 day moving average is $177.43 and its 200 day moving average is $178.78. 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 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a yield of 1.67%. Owens Corning’s dividend payout ratio (DPR) is presently 23.49%.

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.