Advisor Group Inc. grew its holdings in shares of Owens Corning (NYSE:OC) by 14.1% in the 4th quarter, Holdings Channel reports. The fund owned 11,546 shares of the construction company’s stock after purchasing an additional 1,424 shares during the period. Advisor Group Inc.’s holdings in Owens Corning were worth $1,062,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Shellback Capital LP bought a new position in Owens Corning during the fourth quarter worth $8,348,000. Nomura Asset Management Co. Ltd. bought a new position in Owens Corning during the fourth quarter worth $1,318,000. AMP Capital Investors Ltd raised its stake in Owens Corning by 193.8% during the fourth quarter. AMP Capital Investors Ltd now owns 41,671 shares of the construction company’s stock worth $3,832,000 after buying an additional 27,486 shares during the last quarter. BlueCrest Capital Management Ltd raised its stake in Owens Corning by 151.6% during the fourth quarter. BlueCrest Capital Management Ltd now owns 33,285 shares of the construction company’s stock worth $3,060,000 after buying an additional 20,056 shares during the last quarter. Finally, Focused Wealth Management Inc bought a new position in Owens Corning during the fourth quarter worth $175,000. 92.57% of the stock is owned by hedge funds and other institutional investors.

How to Become a New Pot Stock Millionaire

In related news, VP Ava Harter sold 1,100 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $84.00, for a total transaction of $92,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Arnaud Genis sold 59,541 shares of the business’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $81.32, for a total transaction of $4,841,874.12. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Several research firms have weighed in on OC. Seaport Global Securities lifted their price target 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. Zacks Investment Research raised shares of Owens Corning from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research note on Wednesday, December 27th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $110.00 price target (up from $95.00) on shares of Owens Corning in a research note on Monday, January 22nd. They noted that the move was a valuation call. Zelman & Associates downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $115.00 price target on shares of Owens Corning in a research note on Friday, January 12th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $87.95.

Owens Corning (OC) opened at $79.08 on Friday. The stock has a market cap of $8,916.33, a PE ratio of 31.01, a PEG ratio of 0.78 and a beta of 1.08. Owens Corning has a twelve month low of $59.26 and a twelve month high of $96.52. The company has a current ratio of 1.55, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, February 21st. The construction company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.07. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Owens Corning had a net margin of 4.53% and a return on equity of 12.26%. The business’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. sell-side analysts anticipate that Owens Corning will post 5.73 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Friday, March 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, March 8th. Owens Corning’s dividend payout ratio is currently 32.94%.

WARNING: “Advisor Group Inc. Has $1.06 Million Stake in Owens Corning (OC)” was first posted by Watch List News and is owned by of Watch List News. If you are viewing this report on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this report can be read at https://www.watchlistnews.com/advisor-group-inc-has-1-06-million-stake-in-owens-corning-oc/1958859.html.

About Owens Corning

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.

Want to see what other hedge funds are holding OC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Owens Corning (NYSE:OC).

Institutional Ownership by Quarter for Owens Corning (NYSE:OC)

Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.