Skylands Capital LLC Has $15.01 Million Stock Holdings in Owens Corning (NYSE:OC)

Skylands Capital LLC decreased its position in Owens Corning (NYSE:OC) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,290 shares of the construction company’s stock after selling 9,960 shares during the quarter. Owens Corning accounts for 2.2% of Skylands Capital LLC’s portfolio, making the stock its 9th biggest holding. Skylands Capital LLC’s holdings in Owens Corning were worth $15,014,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. IFP Advisors Inc lifted its holdings in shares of Owens Corning by 59.8% in the 3rd quarter. IFP Advisors Inc now owns 390 shares of the construction company’s stock valued at $53,000 after acquiring an additional 146 shares during the last quarter. DAVENPORT & Co LLC increased its position in shares of Owens Corning by 12.4% during the 3rd quarter. DAVENPORT & Co LLC now owns 3,688 shares of the construction company’s stock valued at $503,000 after purchasing an additional 406 shares during the last quarter. UMB Bank n.a. lifted its position in Owens Corning by 26.4% in the third quarter. UMB Bank n.a. now owns 469 shares of the construction company’s stock worth $64,000 after buying an additional 98 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Owens Corning by 36.4% during the third quarter. Commonwealth Equity Services LLC now owns 43,415 shares of the construction company’s stock valued at $5,922,000 after acquiring an additional 11,586 shares during the last quarter. Finally, Accurate Wealth Management LLC raised its stake in shares of Owens Corning by 30.7% in the third quarter. Accurate Wealth Management LLC now owns 4,109 shares of the construction company’s stock valued at $528,000 after acquiring an additional 964 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Stock Up 1.6 %

Shares of OC stock traded up $2.62 during trading hours on Monday, reaching $171.12. 319,577 shares of the company’s stock were exchanged, compared to its average volume of 667,859. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50. The company has a market cap of $14.83 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 5.27 and a beta of 1.47. Owens Corning has a fifty-two week low of $103.41 and a fifty-two week high of $173.65. The stock’s 50 day moving average is $159.88 and its 200-day moving average is $146.48.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.55. Owens Corning had a return on equity of 26.52% and a net margin of 11.53%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the business posted $2.77 earnings per share. The firm’s revenue was down 1.3% compared to the same quarter last year. Analysts predict that Owens Corning will post 14.74 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Monday, March 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.40%. Owens Corning’s dividend payout ratio is currently 19.43%.

Insider Activity

In other news, insider Gunner Smith sold 657 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $153.36, for a total value of $100,757.52. Following the transaction, the insider now directly owns 37,587 shares of the company’s stock, valued at $5,764,342.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Gunner Smith sold 657 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $153.36, for a total value of $100,757.52. Following the completion of the transaction, the insider now owns 37,587 shares of the company’s stock, valued at approximately $5,764,342.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Chambers sold 9,100 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $153.57, for a total value of $1,397,487.00. Following the sale, the chief executive officer now directly owns 269,696 shares in the company, valued at $41,417,214.72. The disclosure for this sale can be found here. Insiders have sold 21,672 shares of company stock valued at $3,325,799 over the last ninety days. 0.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OC. Loop Capital upped their price target on shares of Owens Corning from $167.00 to $188.00 and gave the company a “buy” rating in a report on Monday, April 1st. Royal Bank of Canada increased their price target on Owens Corning from $175.00 to $192.00 and gave the stock an “outperform” rating in a report on Thursday. Evercore ISI boosted their price objective on Owens Corning from $154.00 to $172.00 and gave the company an “in-line” rating in a report on Thursday. Argus increased their target price on Owens Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Citigroup upped their price target on shares of Owens Corning from $150.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.21.

Owens Corning Company 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.