Owens Corning (NYSE:OC) Shares Bought by Sapient Capital LLC

Sapient Capital LLC increased its position in Owens Corning (NYSE:OC) by 3.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 37,223 shares of the construction company’s stock after acquiring an additional 1,138 shares during the period. Sapient Capital LLC’s holdings in Owens Corning were worth $6,340,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of OC. JPMorgan Chase & Co. boosted 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. Pacer Advisors Inc. boosted its stake in shares of Owens Corning by 16.4% during the 3rd quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock worth $327,286,000 after acquiring an additional 261,564 shares in the last quarter. Goldentree Asset Management LP acquired a new stake in shares of Owens Corning during the third quarter worth $43,559,000. Nordea Investment Management AB lifted its holdings in shares of 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 last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Owens Corning by 31.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock valued at $145,455,000 after purchasing an additional 197,667 shares during the period. Institutional investors own 88.40% of the company’s stock.

Insiders Place Their Bets

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the completion of the transaction, the insider now owns 18,866 shares of the company’s stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were 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 $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. The Goldman Sachs Group upped their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Citigroup decreased their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Barclays raised shares of Owens Corning from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $192.00 to $245.00 in a research note on Wednesday, December 11th. Royal Bank of Canada raised their target price on Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Loop Capital dropped their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.75.

Owens Corning Stock Performance

OC stock opened at $179.95 on Tuesday. The firm has a 50 day moving average of $181.58 and a two-hundred day moving average of $178.80. Owens Corning has a 12 month low of $138.70 and a 12 month high of $214.53. The company has a market capitalization of $15.44 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 2.01 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

Owens Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders 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 annualized dividend and a yield of 1.53%. Owens Corning’s dividend payout ratio (DPR) is currently 23.49%.

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.