Edmond DE Rothschild Holding S.A. Purchases 1,650 Shares of Owens Corning (NYSE:OC)

Edmond DE Rothschild Holding S.A. grew its position in Owens Corning (NYSE:OC) by 44.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,381 shares of the construction company’s stock after buying an additional 1,650 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Owens Corning were worth $916,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Allianz SE acquired a new stake in Owens Corning during the 4th quarter worth approximately $281,000. Allstate Corp bought a new stake in shares of Owens Corning during the fourth quarter worth $425,000. denkapparat Operations GmbH acquired a new stake in shares of Owens Corning during the fourth quarter worth $220,000. Orion Portfolio Solutions LLC lifted its position in Owens Corning by 0.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 21,262 shares of the construction company’s stock valued at $3,621,000 after acquiring an additional 107 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in Owens Corning by 4.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 138,592 shares of the construction company’s stock worth $23,605,000 after purchasing an additional 5,826 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OC. Loop Capital cut 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 issued a $212.00 target price on shares of Owens Corning in a research note on Monday, March 17th. JPMorgan Chase & Co. reduced their price target on Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Owens Corning in a report on Tuesday. They set a “buy” rating and a $183.00 target price for the company. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.42.

Insider Activity

In other news, insider Monaco Nicolas Del sold 1,750 shares of the business’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 transaction of $321,947.50. Following the completion of the sale, the insider now owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.82% of the company’s stock.

Owens Corning Stock Up 0.8 %

Shares of OC stock opened at $144.03 on Wednesday. Owens Corning has a 52-week low of $137.50 and a 52-week high of $214.53. The stock has a market cap of $12.32 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.88 and a beta of 1.52. The firm’s 50-day moving average is $162.96 and its 200-day moving average is $176.11. 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 released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the company earned $3.21 earnings per share. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. Sell-side analysts predict that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be issued a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 annualized dividend and a dividend yield of 1.92%. Owens Corning’s dividend payout ratio is currently 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.