denkapparat Operations GmbH Takes $220,000 Position in Owens Corning (NYSE:OC)

denkapparat Operations GmbH acquired a new position in shares of Owens Corning (NYSE:OC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,294 shares of the construction company’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its stake in Owens Corning by 5.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 13,586 shares of the construction company’s stock valued at $2,399,000 after buying an additional 700 shares during the period. Loomis Sayles & Co. L P boosted its holdings in shares of Owens Corning by 36.6% in the third quarter. Loomis Sayles & Co. L P now owns 3,094 shares of the construction company’s stock valued at $546,000 after acquiring an additional 829 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Owens Corning by 44.8% during the third quarter. Private Trust Co. NA now owns 566 shares of the construction company’s stock valued at $100,000 after acquiring an additional 175 shares during the period. Brooklyn Investment Group bought a new stake in Owens Corning during the third quarter worth approximately $38,000. Finally, Glenmede Trust Co. NA lifted its position in Owens Corning by 3.7% in the third quarter. Glenmede Trust Co. NA now owns 92,934 shares of the construction company’s stock worth $16,405,000 after purchasing an additional 3,288 shares during the period. 88.40% of the stock is owned by institutional investors.

Owens Corning Stock Performance

Shares of OC stock opened at $142.64 on Friday. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 1.88 and a beta of 1.52. Owens Corning has a 1-year low of $137.50 and a 1-year high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock’s fifty day simple moving average is $164.63 and its 200-day simple moving average is $176.15.

Owens Corning (NYSE:OC) last released its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $3.21 EPS. On average, sell-side analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

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 paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is currently 37.70%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OC. UBS Group lowered their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Wells Fargo & Company cut their price target on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Citigroup lowered their price objective 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. Royal Bank of Canada reissued an “outperform” rating and set a $212.00 target price on shares of Owens Corning in a research note on Monday, March 17th. Finally, Benchmark restated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.18.

Insider Activity

In related 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 value of $321,947.50. Following the completion of the sale, the insider now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.89% of the stock is currently owned by corporate insiders.

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.