Camelot Portfolios LLC Raises Position in Owens Corning (OC)
Camelot Portfolios LLC increased its position in shares of Owens Corning (NYSE:OC) by 13.7% during the fourth quarter, Holdings Channel reports. The fund owned 7,076 shares of the construction company’s stock after buying an additional 852 shares during the quarter. Camelot Portfolios LLC’s holdings in Owens Corning were worth $651,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. California Public Employees Retirement System grew its position in Owens Corning by 12.3% during the 4th quarter. California Public Employees Retirement System now owns 316,261 shares of the construction company’s stock worth $29,077,000 after acquiring an additional 34,566 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in shares of Owens Corning in the 4th quarter valued at about $1,378,000. American Century Companies Inc. grew its position in shares of Owens Corning by 61.9% in the 4th quarter. American Century Companies Inc. now owns 671,934 shares of the construction company’s stock valued at $61,778,000 after buying an additional 256,877 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Owens Corning by 3.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 21,638 shares of the construction company’s stock valued at $1,989,000 after buying an additional 706 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Owens Corning by 139.6% in the 4th quarter. US Bancorp DE now owns 9,067 shares of the construction company’s stock valued at $833,000 after buying an additional 5,282 shares during the last quarter. Institutional investors and hedge funds own 94.39% of the company’s stock.
In related news, CFO Michael C. Mcmurray sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $90.78, for a total transaction of $1,634,040.00. Following the transaction, the chief financial officer now directly owns 52,228 shares of the company’s stock, valued at approximately $4,741,257.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director W Howard Morris sold 2,026 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $81.95, for a total value of $166,030.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,446 shares of company stock worth $11,156,808. 1.80% of the stock is owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, March 8th. Owens Corning’s dividend payout ratio (DPR) is currently 25.07%.
OC has been the topic of a number of analyst reports. Royal Bank of Canada upgraded Owens Corning from an “outperform” rating to a “top pick” rating in a research report on Monday, December 4th. SunTrust Banks upped their price target on Owens Corning from $66.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $83.00 price target on shares of Owens Corning in a research report on Thursday, October 26th. Zacks Investment Research upgraded Owens Corning from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research report on Wednesday, December 27th. Finally, Credit Suisse Group upped their price target on Owens Corning from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, November 17th. 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 company. Owens Corning has a consensus rating of “Buy” and an average price target of $85.45.
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Owens Corning 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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