Sciencast Management LP Purchases Shares of 1,800 Owens Corning (NYSE:OC)

Sciencast Management LP purchased a new stake in Owens Corning (NYSE:OC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,800 shares of the construction company’s stock, valued at approximately $307,000.

Other large investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning in the 4th quarter valued at $28,000. Venturi Wealth Management LLC raised its position in shares of Owens Corning by 55.8% in the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after acquiring an additional 63 shares during the period. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning in the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB raised its position in shares of Owens Corning by 193.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after acquiring an additional 122 shares during the period. Finally, Whipplewood Advisors LLC acquired a new position in Owens Corning in the 4th quarter worth about $34,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $212.00 price objective on shares of Owens Corning in a report on Monday, March 17th. Loop Capital dropped their price target on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Barclays reduced their price objective on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Finally, StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $204.18.

Owens Corning Stock Performance

OC opened at $144.49 on Monday. The firm has a market capitalization of $12.36 billion, a PE ratio of 12.30, a PEG ratio of 1.88 and a beta of 1.52. The firm’s 50-day moving average price is $167.56 and its 200 day moving average price is $176.76. Owens Corning has a twelve month low of $137.50 and a twelve month high of $214.53. 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 (NYSE:OC) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.21 earnings per share. As a group, sell-side analysts expect that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 10th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.91%. Owens Corning’s payout ratio is 37.70%.

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.