1,224,279 Shares in Owens Corning (NYSE:OC) Acquired by Norges Bank

Norges Bank purchased a new stake in shares of Owens Corning (NYSE:OC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,224,279 shares of the construction company’s stock, valued at approximately $208,519,000.

Other institutional investors also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in shares of Owens Corning during the 4th quarter worth about $28,000. Venturi Wealth Management LLC lifted its holdings in shares of Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after buying an additional 63 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in shares of Owens Corning during the fourth quarter worth approximately $31,000. Wilmington Savings Fund Society FSB grew its stake 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 last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Owens Corning in the fourth quarter worth $34,000. Institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm’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 completion of the sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Owens Corning Stock Down 3.1 %

Shares of NYSE:OC opened at $142.64 on Monday. The company’s fifty day moving average is $164.63 and its 200-day moving average is $176.39. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. Owens Corning has a 52 week low of $137.50 and a 52 week high of $214.53. The company has a market capitalization of $12.20 billion, a PE ratio of 12.14, a P/E/G ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last released 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. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.21 earnings per share. Equities research analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal 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 is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.93%. Owens Corning’s dividend payout ratio is 37.70%.

Analyst Ratings Changes

A number of analysts have weighed in on OC shares. UBS Group reduced their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and set a $212.00 target price on shares of Owens Corning in a research report on Monday, March 17th. Barclays cut their price target on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Benchmark reissued a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $204.18.

Owens Corning Company 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.