Kingsview Wealth Management LLC Sells 46,479 Shares of Owens Corning (NYSE:OC)

Kingsview Wealth Management LLC trimmed its position in Owens Corning (NYSE:OC) by 88.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,041 shares of the construction company’s stock after selling 46,479 shares during the period. Kingsview Wealth Management LLC’s holdings in Owens Corning were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OC. JPMorgan Chase & Co. grew its holdings in shares of Owens Corning by 113.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after purchasing an additional 424,786 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Owens Corning by 16.4% during the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after purchasing an additional 261,564 shares in the last quarter. Goldentree Asset Management LP acquired a new stake in shares of Owens Corning during the 3rd quarter worth $43,559,000. Nordea Investment Management AB boosted its stake in Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock valued at $366,166,000 after buying an additional 238,694 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Owens Corning by 31.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock valued at $145,455,000 after buying an additional 197,667 shares in the last quarter. 88.40% of the stock is owned by institutional investors and hedge funds.

Owens Corning Stock Performance

Shares of Owens Corning stock opened at $178.20 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The stock has a market cap of $15.29 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 2.01 and a beta of 1.46. The company’s fifty day moving average is $181.09 and its 200 day moving average is $178.79.

Owens Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be paid a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.55%. Owens Corning’s dividend payout ratio is 23.49%.

Wall Street Analyst Weigh In

OC has been the topic of several research analyst reports. Barclays raised Owens Corning from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. The Goldman Sachs Group raised their price objective on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI raised their price objective on Owens Corning from $189.00 to $196.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada raised their price objective on Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.75.

Insider Buying and Selling

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $183.97, for a total transaction of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares in the company, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Owens Corning 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.