Lbp Am Sa Raises Stock Position in Owens Corning (NYSE:OC)

Lbp Am Sa raised its stake in shares of Owens Corning (NYSE:OC) by 2.1% during the fourth quarter, Holdings Channel reports. The firm owned 23,876 shares of the construction company’s stock after buying an additional 490 shares during the quarter. Lbp Am Sa’s holdings in Owens Corning were worth $4,067,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. FPC Investment Advisory Inc. purchased a new stake in shares of Owens Corning in the 4th quarter worth about $28,000. Venturi Wealth Management LLC grew its position in shares of Owens Corning by 55.8% in the 4th 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 period. Global Trust Asset Management LLC purchased a new stake in shares of Owens Corning in the 4th quarter worth about $31,000. Wilmington Savings Fund Society FSB grew its position in shares of Owens Corning by 193.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 185 shares of the construction company’s stock worth $32,000 after buying an additional 122 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Owens Corning in the 4th quarter worth about $34,000. 88.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OC. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Royal Bank of Canada lowered their target price on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. UBS Group lowered their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Citigroup lowered their target price on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.18.

Insider Buying and Selling at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the 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 transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.89% of the company’s stock.

Owens Corning Trading Up 4.5 %

Shares of OC opened at $144.09 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. Owens Corning has a 1 year low of $137.50 and a 1 year high of $214.53. The company has a 50 day simple moving average of $169.96 and a two-hundred day simple moving average of $177.35. The firm has a market cap of $12.33 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last announced its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the firm posted $3.21 EPS. The company’s revenue was up 23.3% on a year-over-year basis. On average, equities analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

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 dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) 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.