Cornerstone Select Advisors LLC Takes Position in Owens Corning (NYSE:OC)

Cornerstone Select Advisors LLC bought a new position in shares of Owens Corning (NYSE:OC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,791 shares of the construction company's stock, valued at approximately $305,000.

A number of other large investors have also added to or reduced their stakes in the business. FPC Investment Advisory Inc. acquired a new stake in shares of Owens Corning in the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC grew its stake in Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company's stock worth $30,000 after buying an additional 63 shares in the last quarter. Global Trust Asset Management LLC bought a new position in Owens Corning in the 4th quarter valued at about $31,000. Wilmington Savings Fund Society FSB raised its position in shares of Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company's stock valued at $32,000 after buying an additional 122 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in Owens Corning in the fourth quarter valued at approximately $34,000. Institutional investors own 88.40% of the company's stock.

Insider Transactions at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the firm's 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 completion of the sale, the insider now directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.82% of the company's stock.

Owens Corning Price Performance

Shares of NYSE:OC opened at $142.79 on Wednesday. The stock's 50 day moving average is $142.08 and its 200-day moving average is $168.94. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53. 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 firm has a market capitalization of $12.21 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.88 and a beta of 1.44.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating analysts' consensus estimates of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business's quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the firm earned $3.21 earnings per share. Sell-side analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.93%. Owens Corning's payout ratio is 37.70%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OC. UBS Group decreased their target price on Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Loop Capital decreased their price target on shares of Owens Corning from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, January 10th. StockNews.com cut shares of Owens Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Wells Fargo & Company cut their target price on shares of Owens Corning from $200.00 to $155.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Benchmark reiterated a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $195.73.

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.

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