Generali Asset Management SPA SGR Takes Position in Owens Corning (NYSE:OC)

Generali Asset Management SPA SGR acquired a new stake in shares of Owens Corning (NYSE:OC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,812 shares of the construction company’s stock, valued at approximately $2,523,000.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp grew its holdings in Owens Corning by 4.7% during the third quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock worth $738,104,000 after buying an additional 187,001 shares in the last quarter. Nordea Investment Management AB grew its holdings 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 worth $366,166,000 after buying an additional 238,694 shares in the last quarter. Pacer Advisors Inc. grew its holdings 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 worth $327,286,000 after buying an additional 261,564 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Owens Corning by 31.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock worth $145,455,000 after buying an additional 197,667 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after buying an additional 424,786 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on OC shares. JPMorgan Chase & Co. decreased their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company cut their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. UBS Group cut their price objective on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. StockNews.com cut Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $212.00 price objective on shares of Owens Corning in a research report on Monday. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Owens Corning presently has an average rating of “Moderate Buy” and a consensus target price of $204.18.

Owens Corning Stock Up 1.9 %

Shares of NYSE OC opened at $147.60 on Thursday. Owens Corning has a one year low of $137.50 and a one year high of $214.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The business’s fifty day moving average price is $168.49 and its 200-day moving average price is $176.90. The stock has a market capitalization of $12.63 billion, a PE ratio of 12.56, a P/E/G ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last issued its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.88 billion. During the same quarter in the prior year, the firm earned $3.21 EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities research analysts anticipate that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed 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 is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.87%. Owens Corning’s dividend payout ratio (DPR) is 37.70%.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The stock was 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.