3,300 Shares in Owens Corning (NYSE:OC) Purchased by Clare Market Investments LLC

Clare Market Investments LLC bought a new position in Owens Corning (NYSE:OC) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,300 shares of the construction company’s stock, valued at approximately $562,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in Owens Corning by 113.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 797,743 shares of the construction company’s stock valued at $140,818,000 after buying an additional 424,786 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Owens Corning in the 4th quarter valued at about $51,220,000. Pacer Advisors Inc. increased its stake in Owens Corning by 16.4% in the 3rd 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 during the last quarter. Goldentree Asset Management LP purchased a new stake in Owens Corning in the 3rd quarter valued at about $43,559,000. Finally, Nordea Investment Management AB increased 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 during the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

Owens Corning Stock Down 3.2 %

OC opened at $139.91 on Tuesday. The company has a 50 day moving average of $172.32 and a 200 day moving average of $178.21. The company has a market cap of $11.97 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. Owens Corning has a 12 month low of $137.50 and a 12 month high of $214.53. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89.

Owens Corning (NYSE:OC) last released its quarterly earnings data on Monday, February 24th. The construction company reported $3.22 EPS 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 the consensus estimate 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 for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the firm earned $3.21 EPS. On average, sell-side analysts expect that Owens Corning will post 15.49 EPS for the current year.

Owens Corning Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Monday, March 10th. Owens Corning’s payout ratio is 37.70%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of Owens Corning from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Monday, March 3rd. Barclays reduced their target price on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Loop Capital reduced their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Citigroup reduced their target price 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. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $204.18.

Insider Buying and Selling at Owens Corning

In other news, insider Monaco Nicolas Del sold 1,750 shares of the firm’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 sale, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now owns 18,866 shares in the company, valued at approximately $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

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.