Axa S.A. Buys 5,239 Shares of Owens Corning (NYSE:OC)

Axa S.A. boosted its position in shares of Owens Corning (NYSE:OC) by 11.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 52,250 shares of the construction company’s stock after acquiring an additional 5,239 shares during the period. Axa S.A.’s holdings in Owens Corning were worth $8,899,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AlTi Global Inc. acquired a new stake in Owens Corning in the 4th quarter valued at approximately $258,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Owens Corning in the fourth quarter valued at approximately $263,000. Schonfeld Strategic Advisors LLC acquired a new position in Owens Corning during the fourth quarter worth $41,252,000. Lido Advisors LLC grew its position in Owens Corning by 8.4% in the fourth quarter. Lido Advisors LLC now owns 1,782 shares of the construction company’s stock valued at $304,000 after purchasing an additional 138 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Owens Corning by 27.4% in the 4th quarter. Northern Trust Corp now owns 964,861 shares of the construction company’s stock valued at $164,335,000 after buying an additional 207,677 shares during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now directly owns 11,635 shares of the company’s stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.82% of the stock is owned by insiders.

Owens Corning Price Performance

NYSE:OC opened at $144.41 on Tuesday. Owens Corning has a 52 week low of $123.41 and a 52 week high of $214.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm’s 50-day simple moving average is $142.26 and its 200 day simple moving average is $169.12. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 1.88 and a beta of 1.44.

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

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 10th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Monday, March 10th. Owens Corning’s payout ratio is currently 37.70%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on Owens Corning from $200.00 to $155.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Barclays cut their price objective on Owens Corning from $215.00 to $179.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. 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 report on Monday, January 6th. Loop Capital lowered their price objective on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Royal Bank of Canada dropped their target price on shares of Owens Corning from $212.00 to $199.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $195.73.

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.