AMP Capital Investors Ltd increased its position in shares of Owens Corning (NYSE:OC) by 193.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,671 shares of the construction company’s stock after buying an additional 27,486 shares during the quarter. AMP Capital Investors Ltd’s holdings in Owens Corning were worth $3,832,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in OC. Cerebellum GP LLC purchased a new stake in Owens Corning in the fourth quarter valued at approximately $119,000. Grove Bank & Trust raised its position in Owens Corning by 213.5% in the third quarter. Grove Bank & Trust now owns 1,630 shares of the construction company’s stock valued at $126,000 after purchasing an additional 1,110 shares during the period. Strs Ohio purchased a new stake in Owens Corning in the fourth quarter valued at approximately $129,000. Focused Wealth Management Inc purchased a new stake in Owens Corning in the fourth quarter valued at approximately $175,000. Finally, LS Investment Advisors LLC purchased a new stake in Owens Corning in the fourth quarter valued at approximately $198,000. 92.57% of the stock is currently owned by hedge funds and other institutional investors.
OC stock opened at $79.79 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 1.55. The company has a market cap of $9,052.66, a price-to-earnings ratio of 31.29, a P/E/G ratio of 0.80 and a beta of 1.08. Owens Corning has a 12 month low of $59.26 and a 12 month high of $96.52.
Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, February 21st. The construction company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.07. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.52 billion. Owens Corning had a net margin of 4.53% and a return on equity of 12.26%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. analysts expect that Owens Corning will post 5.71 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 9th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, March 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.05%. Owens Corning’s payout ratio is currently 32.94%.
A number of analysts have issued reports on OC shares. SunTrust Banks boosted their target price on Owens Corning to $85.00 and gave the company a “hold” rating in a research report on Tuesday, November 21st. Royal Bank of Canada raised Owens Corning from an “outperform” rating to a “top pick” rating in a research report on Monday, December 4th. Zacks Investment Research lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Argus initiated coverage on Owens Corning in a research report on Wednesday, December 6th. They set a “buy” rating and a $109.00 price objective on the stock. Finally, Zelman & Associates lowered Owens Corning from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Owens Corning has an average rating of “Buy” and a consensus target price of $87.95.
In related news, insider Arnaud Genis sold 59,541 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $81.32, for a total transaction of $4,841,874.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ava Harter sold 1,100 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $84.00, for a total transaction of $92,400.00. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.
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Owens Corning Company Profile
Owens Corning is engaged in the business of composite and building materials systems, delivering a range of products and services. The Company’s products range from glass fiber used to reinforce composite materials for transportation, electronics, marine, infrastructure, wind-energy and other markets to insulation and roofing for residential, commercial and industrial applications.
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