Candriam S.C.A. Boosts Stock Holdings in Owens Corning (NYSE:OC)

Candriam S.C.A. raised its holdings in Owens Corning (NYSE:OC) by 37.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,891 shares of the construction company’s stock after purchasing an additional 46,236 shares during the period. Candriam S.C.A.’s holdings in Owens Corning were worth $28,766,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of OC. JPMorgan Chase & Co. boosted its stake in Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after buying an additional 424,786 shares during the period. Raymond James Financial Inc. bought a new stake in Owens Corning during the fourth quarter valued at $51,220,000. Pacer Advisors Inc. boosted its stake in Owens Corning by 16.4% during the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after buying an additional 261,564 shares during the period. Goldentree Asset Management LP bought a new stake in Owens Corning during the third quarter valued at $43,559,000. Finally, Nordea Investment Management AB boosted its stake in Owens Corning by 12.5% during 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 during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 2.2 %

OC opened at $145.66 on Friday. The company has a market cap of $12.46 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.88 and a beta of 1.52. The business’s 50-day moving average price is $173.97 and its 200-day moving average price is $178.51. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Owens Corning has a 12 month low of $140.94 and a 12 month 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. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the business earned $3.21 earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. On average, equities analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.89%. Owens Corning’s dividend payout ratio is presently 37.70%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on OC shares. Evercore ISI lifted 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. The Goldman Sachs Group lifted 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. Royal Bank of Canada dropped their price objective on Owens Corning from $224.00 to $212.00 and set an “outperform” rating for the company in a research note on Tuesday, February 25th. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company dropped their price target on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $204.18.

Insider Activity at Owens Corning

In related news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the transaction, the insider now owns 18,866 shares in the company, valued at $3,606,990.54. The trade was a 48.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company 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.