Candriam S.C.A. Has $28.77 Million Holdings in Owens Corning (NYSE:OC)

Candriam S.C.A. lifted its position in shares of Owens Corning (NYSE:OC) by 37.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,891 shares of the construction company’s stock after buying an additional 46,236 shares during the quarter. Candriam S.C.A. owned about 0.20% of Owens Corning worth $28,766,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Owens Corning during the fourth quarter worth $51,220,000. Arizona State Retirement System grew its holdings in Owens Corning by 1.7% in the fourth quarter. Arizona State Retirement System now owns 25,254 shares of the construction company’s stock worth $4,301,000 after purchasing an additional 426 shares during the period. Aigen Investment Management LP acquired a new stake in Owens Corning in the fourth quarter worth $665,000. Proficio Capital Partners LLC acquired a new stake in Owens Corning in the fourth quarter worth $22,831,000. Finally, M&T Bank Corp grew its holdings in Owens Corning by 96.9% in the fourth quarter. M&T Bank Corp now owns 9,030 shares of the construction company’s stock worth $1,538,000 after purchasing an additional 4,443 shares during the period. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OC shares. Barclays reduced their price target on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. StockNews.com cut shares of Owens Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price target on shares of Owens Corning from $200.00 to $176.00 and set a “neutral” rating for the company in a report on Tuesday. Royal Bank of Canada reduced their price target on shares of Owens Corning from $224.00 to $212.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Finally, Benchmark reaffirmed a “hold” rating on shares of Owens Corning in a research note on Monday. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $204.18.

Owens Corning Stock Down 2.2 %

OC opened at $145.66 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 0.85. The company’s 50-day moving average is $173.97 and its 200 day moving average is $178.51. Owens Corning has a fifty-two week low of $140.94 and a fifty-two week high of $214.53. The firm has a market capitalization of $12.46 billion, a P/E ratio of 12.40, a PEG ratio of 1.88 and a beta of 1.52.

Owens Corning (NYSE:OC) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the firm earned $3.21 earnings per share. The firm’s revenue was up 23.3% on a year-over-year basis. Research analysts expect that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.89%. Owens Corning’s dividend payout ratio (DPR) is presently 37.70%.

Insider Buying and Selling

In related news, insider Monaco Nicolas Del sold 1,750 shares of the firm’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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gunner Smith sold 17,450 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was 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 of the company’s stock, valued at $3,606,990.54. This trade represents a 48.05 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate 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.