Owens Corning (NYSE:OC) Shares Sold by Skylands Capital LLC

Skylands Capital LLC lowered its stake in shares of Owens Corning (NYSE:OC) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,225 shares of the construction company’s stock after selling 670 shares during the quarter. Owens Corning comprises approximately 2.1% of Skylands Capital LLC’s investment portfolio, making the stock its 11th largest holding. Skylands Capital LLC’s holdings in Owens Corning were worth $15,026,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Alpha DNA Investment Management LLC boosted its position in Owens Corning by 147.4% in the third quarter. Alpha DNA Investment Management LLC now owns 4,270 shares of the construction company’s stock valued at $754,000 after buying an additional 2,544 shares during the last quarter. Janus Henderson Group PLC boosted its position in Owens Corning by 3.1% in the 3rd 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 in the last quarter. Penserra Capital Management LLC boosted its position in Owens Corning by 53.3% in the 3rd 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 boosted its position in Owens Corning by 93.3% in the 3rd quarter. Atria Investments Inc now owns 13,200 shares of the construction company’s stock worth $2,330,000 after purchasing an additional 6,373 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in Owens Corning in the 3rd quarter worth approximately $1,046,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on OC shares. Barclays upgraded Owens Corning from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $192.00 to $245.00 in a research report on Wednesday, December 11th. Royal Bank of Canada upped their target price on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised Owens Corning from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $195.00 to $225.00 in a research note on Tuesday, December 17th. UBS Group increased their price objective on Owens Corning from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Citigroup reduced their price objective 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. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.30.

Insider Buying and Selling

In other news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning stock in a transaction 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 transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gunner Smith sold 17,450 shares of Owens Corning stock in a transaction on 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 transaction, the insider now owns 18,866 shares in the company, valued at $3,606,990.54. This represents 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 Stock Down 4.0 %

Owens Corning stock opened at $165.25 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market capitalization of $14.17 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46. Owens Corning has a fifty-two week low of $143.50 and a fifty-two week high of $214.53. The stock’s fifty day moving average is $177.43 and its two-hundred day moving average is $178.95.

Owens Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a dividend of $0.69 per share. 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%.

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.