Kimelman & Baird LLC Sells 547 Shares of Owens Corning (NYSE:OC)

Kimelman & Baird LLC lowered its position in Owens Corning (NYSE:OC) by 0.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 204,549 shares of the construction company’s stock after selling 547 shares during the period. Owens Corning comprises approximately 2.8% of Kimelman & Baird LLC’s holdings, making the stock its 14th largest position. Kimelman & Baird LLC’s holdings in Owens Corning were worth $34,839,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC boosted its position in shares of Owens Corning by 7.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,784 shares of the construction company’s stock worth $315,000 after acquiring an additional 116 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Owens Corning by 4.8% during the third quarter. CIBC Asset Management Inc now owns 3,513 shares of the construction company’s stock worth $620,000 after acquiring an additional 162 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of Owens Corning by 1.9% during the third quarter. Natixis Advisors LLC now owns 17,903 shares of the construction company’s stock worth $3,160,000 after acquiring an additional 339 shares during the last quarter. Chesapeake Capital Corp IL boosted its position in shares of Owens Corning by 28.2% during the third quarter. Chesapeake Capital Corp IL now owns 4,134 shares of the construction company’s stock worth $721,000 after acquiring an additional 909 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Owens Corning by 15.0% during the third quarter. Thrivent Financial for Lutherans now owns 231,352 shares of the construction company’s stock worth $40,838,000 after acquiring an additional 30,192 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction dated Thursday, February 6th. The shares were 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 owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on OC. Loop Capital dropped their target price 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. Citigroup lowered 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. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada lowered their target price on Owens Corning from $224.00 to $212.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $204.18.

Owens Corning Stock Up 4.5 %

Shares of NYSE OC opened at $144.09 on Monday. 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 company has a market cap of $12.33 billion, a P/E ratio of 12.26, a PEG ratio of 1.88 and a beta of 1.52. Owens Corning has a 1 year low of $137.50 and a 1 year high of $214.53. The firm has a 50-day simple moving average of $169.96 and a two-hundred day simple moving average of $177.43.

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

Owens Corning Dividend Announcement

The company 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 $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is currently 37.70%.

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.