Stifel Financial Corp Grows Position in Owens Corning (NYSE:OC)

Stifel Financial Corp grew its stake in shares of Owens Corning (NYSE:OC - Free Report) by 23.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,856 shares of the construction company's stock after acquiring an additional 12,727 shares during the period. Stifel Financial Corp owned 0.08% of Owens Corning worth $11,557,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Stratos Wealth Partners LTD. lifted its holdings in Owens Corning by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company's stock worth $221,000 after buying an additional 53 shares during the period. Greenleaf Trust increased its position in Owens Corning by 1.5% during the 4th quarter. Greenleaf Trust now owns 3,895 shares of the construction company's stock valued at $663,000 after purchasing an additional 56 shares during the period. Retirement Guys Formula LLC lifted its position in shares of Owens Corning by 3.1% in the 4th quarter. Retirement Guys Formula LLC now owns 1,999 shares of the construction company's stock worth $341,000 after purchasing an additional 60 shares during the period. IFP Advisors Inc increased its position in shares of Owens Corning by 35.6% during the fourth quarter. IFP Advisors Inc now owns 236 shares of the construction company's stock valued at $40,000 after buying an additional 62 shares during the period. Finally, Parallel Advisors LLC raised its stake in Owens Corning by 2.5% in the fourth quarter. Parallel Advisors LLC now owns 2,578 shares of the construction company's stock worth $439,000 after buying an additional 62 shares in the last quarter. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Stock Up 0.2 %

NYSE:OC traded up $0.30 during trading hours on Friday, reaching $144.26. The company's stock had a trading volume of 522,748 shares, compared to its average volume of 806,053. The stock has a 50 day moving average price of $145.23 and a two-hundred day moving average price of $171.23. 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 company has a market capitalization of $12.34 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. Owens Corning has a 12 month low of $123.41 and a 12 month high of $214.53.

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

Owens Corning Announces Dividend

The company 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 dividend on an annualized basis and a yield of 1.91%. Owens Corning's payout ratio is 37.70%.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company's stock in a transaction dated 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 directly owns 11,635 shares of the company's stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Owens Corning in a research report on Tuesday, April 1st. They set a "buy" rating and a $183.00 price target on the stock. Royal Bank of Canada lowered their target price on shares of Owens Corning from $212.00 to $199.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. StockNews.com downgraded Owens Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a report on Monday, March 3rd. Finally, UBS Group decreased their price objective on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $194.58.

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.