1,647 Shares in Owens Corning (NYSE:OC) Acquired by Allianz SE

Allianz SE purchased a new stake in shares of Owens Corning (NYSE:OC) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,647 shares of the construction company’s stock, valued at approximately $281,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Owens Corning in the 4th quarter worth approximately $208,519,000. JPMorgan Chase & Co. raised its holdings in shares of 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 purchasing an additional 424,786 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Owens Corning during the fourth quarter worth $51,220,000. Nordea Investment Management AB lifted its position 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 purchasing an additional 238,694 shares during the period. Finally, LGT Group Foundation purchased a new stake in Owens Corning in the fourth quarter valued at $39,054,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Owens Corning Stock Down 3.1 %

Shares of NYSE OC opened at $142.64 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $164.63 and its two-hundred day moving average is $176.39. Owens Corning has a 52-week low of $137.50 and a 52-week high of $214.53. The firm has a market cap of $12.20 billion, a price-to-earnings ratio of 12.14, a PEG 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. Research analysts predict 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. Shareholders of record on Monday, March 10th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.93%. Owens Corning’s dividend payout ratio (DPR) is 37.70%.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was 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 directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

OC has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $212.00 price target on shares of Owens Corning in a research report on Monday, March 17th. Loop Capital cut their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. Wells Fargo & Company reduced their target price 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. JPMorgan Chase & Co. lowered their price objective on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Barclays cut their price objective on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $204.18.

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.