Rockefeller Capital Management L.P. Grows Stock Holdings in Owens Corning (NYSE:OC)

Rockefeller Capital Management L.P. grew its stake in shares of Owens Corning (NYSE:OC) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,468 shares of the construction company’s stock after acquiring an additional 652 shares during the period. Rockefeller Capital Management L.P.’s holdings in Owens Corning were worth $5,871,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the sale, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.82% of the stock is owned by insiders.

Owens Corning Price Performance

Shares of NYSE:OC opened at $137.98 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The stock has a market cap of $11.80 billion, a PE ratio of 11.74, a PEG ratio of 1.88 and a beta of 1.39. The company’s fifty day moving average is $149.23 and its 200 day moving average is $172.49. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.21 earnings per share. Research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 10th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, March 10th. Owens Corning’s dividend payout ratio is 37.70%.

Analysts Set New Price Targets

Several brokerages have commented on OC. Loop Capital cut their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Wells Fargo & Company dropped their price objective on Owens Corning from $200.00 to $155.00 and set an “overweight” rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on Owens Corning in a research note on Tuesday, April 1st. They issued a “buy” rating and a $183.00 target price on the stock. JPMorgan Chase & Co. cut their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, 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. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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.