Owens Corning (OC) Position Trimmed by Alpha Windward LLC
Alpha Windward LLC cut its holdings in shares of Owens Corning (NYSE:OC) by 20.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,011 shares of the construction company’s stock after selling 1,573 shares during the quarter. Alpha Windward LLC’s holdings in Owens Corning were worth $553,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust lifted its position in Owens Corning by 213.5% during the third quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock worth $126,000 after buying an additional 1,110 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Owens Corning in the 3rd quarter worth about $202,000. Worth Venture Partners LLC purchased a new position in shares of Owens Corning in the 3rd quarter worth about $213,000. Advisors Asset Management Inc. raised its holdings in shares of Owens Corning by 214.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,764 shares of the construction company’s stock worth $214,000 after purchasing an additional 1,885 shares during the period. Finally, Csenge Advisory Group purchased a new position in shares of Owens Corning in the 3rd quarter worth about $245,000. Hedge funds and other institutional investors own 94.55% of the company’s stock.
In other Owens Corning news, Director W Howard Morris sold 2,026 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $81.95, for a total transaction of $166,030.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ava Harter sold 487 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $81.96, for a total value of $39,914.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,933 shares of company stock worth $11,196,722. Company insiders own 1.80% of the company’s stock.
Owens Corning (NYSE:OC) last announced its earnings results on Wednesday, October 25th. The construction company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.01). The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Owens Corning had a net margin of 6.15% and a return on equity of 11.40%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. research analysts predict that Owens Corning will post 4.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Tuesday, January 2nd were issued a dividend of $0.21 per share. This is an increase from Owens Corning’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Friday, December 29th. Owens Corning’s dividend payout ratio (DPR) is presently 25.07%.
A number of research firms have recently commented on OC. Seaport Global Securities raised their price objective on Owens Corning from $90.00 to $107.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Zacks Investment Research downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus restated a “buy” rating and issued a $83.00 price objective on shares of Owens Corning in a report on Thursday, October 26th. Royal Bank of Canada restated a “buy” rating on shares of Owens Corning in a report on Tuesday, October 3rd. Finally, Zelman & Associates downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Nine research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $84.77.
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Owens Corning Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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