Owens Corning (NYSE:OC) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI raised its holdings in Owens Corning (NYSE:OC) by 48.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 37,423 shares of the construction company’s stock after acquiring an additional 12,293 shares during the period. National Bank of Canada FI’s holdings in Owens Corning were worth $6,374,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Owens Corning by 44.2% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 5,381 shares of the construction company’s stock worth $916,000 after acquiring an additional 1,650 shares in the last quarter. Allianz SE acquired a new position in shares of Owens Corning in the 4th quarter valued at $281,000. Allstate Corp purchased a new position in Owens Corning in the 4th quarter worth about $425,000. denkapparat Operations GmbH acquired a new stake in Owens Corning during the 4th quarter worth about $220,000. Finally, Orion Portfolio Solutions LLC lifted its stake in Owens Corning by 0.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 21,262 shares of the construction company’s stock valued at $3,621,000 after buying an additional 107 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on OC shares. Citigroup cut their price target 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. JPMorgan Chase & Co. cut 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. StockNews.com lowered Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Barclays lowered their price target on Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Owens Corning in a research note on Tuesday, April 1st. They issued a “buy” rating and a $183.00 price objective for the company. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.42.

Owens Corning Trading Down 2.3 %

NYSE:OC opened at $134.17 on Monday. 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 company has a market capitalization of $11.48 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.88 and a beta of 1.39. The stock’s 50 day moving average price is $160.07 and its 200 day moving average price is $175.46. Owens Corning has a 52 week low of $115.27 and a 52 week high of $214.53.

Owens Corning (NYSE:OC) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the business posted $3.21 EPS. Owens Corning’s quarterly revenue was up 23.3% on a year-over-year basis. On average, research analysts forecast that Owens Corning will post 15.49 EPS for the current fiscal year.

Owens Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.06%. Owens Corning’s dividend payout ratio is currently 37.70%.

Insider Activity

In related news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 11,635 shares of the company’s stock, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is currently owned by insiders.

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.