Trexquant Investment LP Acquires New Position in Owens Corning (NYSE:OC)

Trexquant Investment LP purchased a new position in Owens Corning (NYSE:OC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 34,278 shares of the construction company’s stock, valued at approximately $5,838,000.

Several other institutional investors and hedge funds have also made changes to their positions in OC. FPC Investment Advisory Inc. acquired a new stake in Owens Corning during the 4th quarter worth about $28,000. Venturi Wealth Management LLC lifted its holdings in shares of Owens Corning by 55.8% during the fourth quarter. Venturi Wealth Management LLC now owns 176 shares of the construction company’s stock worth $30,000 after purchasing an additional 63 shares during the period. Global Trust Asset Management LLC purchased a new stake in Owens Corning in the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB increased its holdings in 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 position in Owens Corning during the 4th quarter worth approximately $34,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Owens Corning Stock Performance

NYSE OC opened at $134.17 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 $126.15 and a 1-year high of $214.53. The company has a market cap of $11.48 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.39. The stock’s 50 day simple moving average is $160.07 and its 200-day simple moving average is $175.41.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share (EPS) for the quarter, topping 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 net margin of 9.92% and a return on equity of 25.82%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.21 EPS. As a group, equities research analysts anticipate that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Dividend Announcement

The firm 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 of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 2.06%. Owens Corning’s payout ratio is 37.70%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on OC shares. StockNews.com lowered shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Wells Fargo & Company reduced their price objective on Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Owens Corning from $200.00 to $176.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. UBS Group reduced their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Finally, Barclays lowered their price objective on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and an average target price of $202.42.

Insiders Place Their Bets

In related 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 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. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.

Owens Corning 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.