Victory Capital Management Inc. increased its position in Owens Corning (NYSE:OC) by 0.2% in the fourth quarter, Holdings Channel reports. The fund owned 2,093,939 shares of the construction company’s stock after purchasing an additional 4,597 shares during the period. Victory Capital Management Inc.’s holdings in Owens Corning were worth $192,517,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cerebellum GP LLC purchased a new position in Owens Corning in the 4th quarter worth approximately $119,000. Grove Bank & Trust raised its holdings in Owens Corning by 213.5% in the 3rd quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock worth $126,000 after acquiring an additional 1,110 shares during the last quarter. Strs Ohio purchased a new position in Owens Corning in the 4th quarter worth approximately $129,000. Crossmark Global Holdings Inc. purchased a new position in Owens Corning in the 3rd quarter worth approximately $202,000. Finally, Lakeview Capital Partners LLC purchased a new position in Owens Corning in the 4th quarter worth approximately $203,000. Institutional investors own 94.45% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Credit Suisse Group restated an “outperform” rating and issued a $110.00 price objective (up from $95.00) on shares of Owens Corning in a report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Owens Corning from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Thursday, January 18th. KeyCorp reiterated a “buy” rating and set a $115.00 target price on shares of Owens Corning in a research note on Friday, January 12th. Seaport Global Securities boosted their target price on shares of Owens Corning from $90.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Zelman & Associates lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $85.45.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.91%. Owens Corning’s dividend payout ratio (DPR) is 25.07%.
In related news, Director W Howard Morris sold 2,026 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $81.95, for a total value of $166,030.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael H. Thaman sold 101,600 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $85.33, for a total transaction of $8,669,528.00. Following the completion of the transaction, the chairman now directly owns 840,370 shares of the company’s stock, valued at approximately $71,708,772.10. The disclosure for this sale can be found here. Insiders sold a total of 129,933 shares of company stock valued at $11,196,722 over the last 90 days. 1.80% of the stock is currently owned by company insiders.
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Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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