4,000 Shares in Owens Corning (NYSE:OC) Bought by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in Owens Corning (NYSE:OC) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 4,000 shares of the construction company’s stock, valued at approximately $681,000.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Owens Corning by 113.9% in 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 in the last quarter. Raymond James Financial Inc. bought a new position in Owens Corning in the 4th quarter worth $51,220,000. Goldentree Asset Management LP purchased a new stake in Owens Corning in the 3rd quarter worth $43,559,000. Nordea Investment Management AB raised 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 valued at $366,166,000 after acquiring an additional 238,694 shares during the period. Finally, LGT Group Foundation purchased a new position in shares of Owens Corning in the fourth quarter valued at about $39,054,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Stock Down 1.0 %

Shares of NYSE OC opened at $149.61 on Wednesday. Owens Corning has a 52-week low of $137.50 and a 52-week high of $214.53. The firm has a market capitalization of $12.80 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.88 and a beta of 1.52. The stock has a 50 day moving average price of $166.70 and a 200 day moving average price of $176.65. 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 (NYSE:OC) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, beating the consensus estimate 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 return on equity of 25.82% and a net margin of 9.92%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.21 earnings per share. Sell-side analysts expect that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

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 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 yield of 1.84%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Analysts Set New Price Targets

OC has been the topic of a number of research analyst reports. Loop Capital lowered their price target on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada restated an “outperform” rating and set a $212.00 target price on shares of Owens Corning in a research report on Monday, March 17th. Citigroup reduced their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Owens Corning presently has an average rating of “Moderate Buy” and an average target price of $204.18.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction that occurred on 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 directly owns 11,635 shares in the company, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is currently owned by corporate insiders.

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.