Groupama Asset Managment Grows Stock Position in Owens Corning (NYSE:OC)

Groupama Asset Managment boosted its stake in shares of Owens Corning (NYSE:OC) by 38.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,836 shares of the construction company’s stock after purchasing an additional 1,348 shares during the quarter. Groupama Asset Managment’s holdings in Owens Corning were worth $820,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in OC. Norges Bank purchased a new stake in shares of Owens Corning during the fourth quarter worth approximately $208,519,000. JPMorgan Chase & Co. grew its holdings in Owens Corning by 113.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after acquiring an additional 424,786 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Owens Corning in the 4th quarter valued at approximately $51,220,000. Nordea Investment Management AB raised its holdings in shares of Owens Corning by 12.5% in the 4th quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock valued at $366,166,000 after purchasing an additional 238,694 shares in the last quarter. Finally, LGT Group Foundation purchased a new stake in shares of Owens Corning during the 4th quarter worth $39,054,000. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on OC shares. UBS Group cut their price target on Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Barclays decreased their target price on Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Owens Corning in a research note on Tuesday. They issued a “buy” rating and a $183.00 price target on the stock. Citigroup reduced their price objective on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped 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 report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $202.42.

Insider Activity at Owens Corning

In related news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The shares were 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 of the company’s stock, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.82% of the stock is currently owned by insiders.

Owens Corning Trading Up 2.2 %

NYSE OC opened at $147.20 on Thursday. The firm’s fifty day moving average is $162.15 and its two-hundred day moving average is $175.91. Owens Corning has a one year low of $137.50 and a one year 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 has a market cap of $12.59 billion, a PE ratio of 12.53, a P/E/G ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last issued its quarterly earnings results 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 analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the firm posted $3.21 EPS. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. Analysts expect 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 will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio is presently 37.70%.

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.