Planned Solutions Inc. Buys Shares of 515 Owens Corning (NYSE:OC)

Planned Solutions Inc. acquired a new stake in shares of Owens Corning (NYSE:OC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 515 shares of the construction company’s stock, valued at approximately $76,000.

A number of other large investors have also bought and sold shares of the company. US Bancorp DE increased its holdings in Owens Corning by 4.0% in the 1st quarter. US Bancorp DE now owns 6,502 shares of the construction company’s stock worth $595,000 after acquiring an additional 249 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Owens Corning by 9.3% in the first quarter. HighTower Advisors LLC now owns 2,606 shares of the construction company’s stock valued at $238,000 after purchasing an additional 221 shares during the period. Natixis Advisors L.P. raised its position in shares of Owens Corning by 24.9% in the first quarter. Natixis Advisors L.P. now owns 13,517 shares of the construction company’s stock valued at $1,237,000 after purchasing an additional 2,693 shares during the period. Bank of Montreal Can lifted its stake in shares of Owens Corning by 10.8% during the 1st quarter. Bank of Montreal Can now owns 19,987 shares of the construction company’s stock valued at $1,888,000 after buying an additional 1,952 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Owens Corning by 245.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,649 shares of the construction company’s stock valued at $333,000 after buying an additional 2,592 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Price Performance

Shares of Owens Corning stock opened at $167.14 on Thursday. The firm has a market capitalization of $14.54 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 0.45 and a beta of 1.46. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. Owens Corning has a 12 month low of $90.78 and a 12 month high of $167.27. The business’s 50-day moving average price is $152.89 and its 200-day moving average price is $141.68.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $3.21 EPS for the quarter, topping the consensus estimate of $2.82 by $0.39. Owens Corning had a net margin of 12.36% and a return on equity of 25.88%. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the firm posted $2.49 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. Sell-side analysts forecast that Owens Corning will post 14.08 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Monday, March 4th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.44%. Owens Corning’s payout ratio is 18.29%.

Insider Activity

In other Owens Corning news, CEO Brian Chambers sold 9,100 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 269,696 shares in the company, valued at $41,417,214.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Paula Russell sold 3,765 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $162.00, for a total value of $609,930.00. Following the sale, the executive vice president now directly owns 20,419 shares of the company’s stock, valued at $3,307,878. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Chambers sold 9,100 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $153.57, for a total value of $1,397,487.00. Following the transaction, the chief executive officer now directly owns 269,696 shares of the company’s stock, valued at approximately $41,417,214.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,672 shares of company stock valued at $3,325,799. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

OC has been the topic of several recent research reports. Royal Bank of Canada dropped their target price on Owens Corning from $183.00 to $175.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. JPMorgan Chase & Co. reduced their target price on Owens Corning from $164.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. UBS Group lowered their price target on shares of Owens Corning from $175.00 to $169.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Evercore ISI cut shares of Owens Corning from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $163.00 to $154.00 in a research note on Thursday, February 15th. Finally, Barclays cut shares of Owens Corning from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $170.00 to $160.00 in a research note on Monday, February 12th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $157.43.

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.