Owens Corning (NYSE:OC) Shares Bought by Groupama Asset Managment

Groupama Asset Managment raised its holdings in Owens Corning (NYSE:OC) by 38.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,836 shares of the construction company’s stock after purchasing an additional 1,348 shares during the period. Groupama Asset Managment’s holdings in Owens Corning were worth $820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in Owens Corning in the 4th quarter worth $208,519,000. JPMorgan Chase & Co. increased its stake in shares of Owens Corning by 113.9% during the third quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock worth $140,818,000 after purchasing an additional 424,786 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Owens Corning during the 4th quarter worth about $51,220,000. Nordea Investment Management AB lifted its stake in 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 buying an additional 238,694 shares in the last quarter. Finally, LGT Group Foundation acquired a new stake in Owens Corning in the 4th quarter worth about $39,054,000. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Owens Corning Stock Performance

NYSE OC opened at $147.20 on Thursday. The stock has a fifty day simple moving average of $162.15 and a 200-day simple moving average of $175.91. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The stock 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 has a twelve month low of $137.50 and a twelve month high of $214.53.

Owens Corning (NYSE:OC) last announced its earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.88 billion. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. Owens Corning’s revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.21 earnings per share. Equities analysts anticipate that Owens Corning will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The company also recently announced 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. This represents a $2.76 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

Analyst Upgrades and Downgrades

OC has been the topic of several research reports. StockNews.com downgraded Owens Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Owens Corning in a research note on Tuesday. They set a “buy” rating and a $183.00 target price on the stock. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research report on Monday, March 3rd. JPMorgan Chase & Co. lowered their price target 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. Finally, UBS Group decreased their target price on shares of Owens Corning from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.42.

Insiders Place Their Bets

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the business’s 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 sale, the insider now directly owns 11,635 shares in the company, valued at $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is owned by insiders.

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.