Aptus Capital Advisors LLC Buys 9,679 Shares of Owens Corning (NYSE:OC)

Aptus Capital Advisors LLC increased its stake in shares of Owens Corning (NYSE:OC - Free Report) by 18.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 63,226 shares of the construction company's stock after acquiring an additional 9,679 shares during the period. Aptus Capital Advisors LLC owned approximately 0.07% of Owens Corning worth $10,769,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in Owens Corning by 12.5% during the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company's stock valued at $366,166,000 after buying an additional 238,694 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Owens Corning by 41.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,422,828 shares of the construction company's stock worth $242,337,000 after purchasing an additional 414,770 shares during the last quarter. Norges Bank acquired a new position in Owens Corning in the fourth quarter worth $208,519,000. Northern Trust Corp increased its stake in Owens Corning by 27.4% during the fourth quarter. Northern Trust Corp now owns 964,861 shares of the construction company's stock valued at $164,335,000 after purchasing an additional 207,677 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Owens Corning by 20.7% in the 4th quarter. First Trust Advisors LP now owns 744,771 shares of the construction company's stock worth $126,849,000 after buying an additional 127,785 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Stock Down 8.6 %

Shares of OC stock traded down $12.21 during trading on Wednesday, hitting $130.42. 2,057,331 shares of the company were exchanged, compared to its average volume of 816,482. The business's 50-day simple moving average is $142.08 and its 200 day simple moving average is $168.94. Owens Corning has a twelve month low of $123.41 and a twelve month high of $214.53. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 1.88 and a beta of 1.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44.

Owens Corning (NYSE:OC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The construction company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.82 by $0.15. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the previous year, the company posted $3.40 EPS. Owens Corning's revenue was up 25.4% on a year-over-year basis. As a group, analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning's payout ratio is presently 37.70%.

Insider Buying and Selling at Owens Corning

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

Wall Street Analyst Weigh In

OC has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on Owens Corning from $200.00 to $155.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Loop Capital lowered their price objective on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Barclays cut their target price on Owens Corning from $215.00 to $179.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lowered their price target on shares of Owens Corning from $200.00 to $176.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Owens Corning in a research note on Tuesday, April 1st. They set a "buy" rating and a $183.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $195.73.

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.