Owens Corning (NYSE:OC) Shares Bought by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd increased its stake in Owens Corning (NYSE:OC) by 36.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,000 shares of the construction company’s stock after acquiring an additional 800 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Owens Corning were worth $511,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Owens Corning by 4.7% in the 3rd quarter. State Street Corp now owns 4,181,421 shares of the construction company’s stock worth $738,104,000 after purchasing an additional 187,001 shares during the period. Nordea Investment Management AB raised its holdings in Owens Corning by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 2,148,610 shares of the construction company’s stock valued at $366,166,000 after buying an additional 238,694 shares during the period. Pacer Advisors Inc. lifted its position in Owens Corning by 16.4% during the third quarter. Pacer Advisors Inc. now owns 1,854,100 shares of the construction company’s stock valued at $327,286,000 after buying an additional 261,564 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Owens Corning by 31.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 824,013 shares of the construction company’s stock worth $145,455,000 after buying an additional 197,667 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Owens Corning by 113.9% in the third 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. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OC. UBS Group decreased their price target on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Citigroup decreased their target price on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Benchmark restated a “hold” rating on shares of Owens Corning in a report on Monday, March 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $204.18.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of Owens Corning 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 transaction, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.89% of the stock is owned by insiders.

Owens Corning Price Performance

Shares of OC stock opened at $144.09 on Friday. The firm has a market cap of $12.33 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.88 and a beta of 1.52. The firm has a fifty day moving average of $169.96 and a two-hundred day moving average of $177.35. 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 $137.50 and a 1-year high of $214.53.

Owens Corning (NYSE:OC) last announced its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the company earned $3.21 earnings per share. Owens Corning’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, research analysts anticipate that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

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. This represents a $2.76 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s dividend payout ratio is presently 37.70%.

About Owens Corning

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.