Allianz SE Purchases New Holdings in Owens Corning (NYSE:OC)

Allianz SE acquired a new stake in Owens Corning (NYSE:OC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,647 shares of the construction company’s stock, valued at approximately $281,000.

Several other large investors have also recently made changes to their positions in OC. Allstate Corp bought a new position in Owens Corning during the fourth quarter worth about $425,000. denkapparat Operations GmbH purchased a new stake in shares of Owens Corning during the 4th quarter valued at approximately $220,000. Orion Portfolio Solutions LLC boosted its holdings in Owens Corning by 0.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 21,262 shares of the construction company’s stock worth $3,621,000 after buying an additional 107 shares during the period. Pictet Asset Management Holding SA grew its stake in Owens Corning by 4.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 138,592 shares of the construction company’s stock valued at $23,605,000 after buying an additional 5,826 shares in the last quarter. Finally, Triodos Investment Management BV raised its holdings in Owens Corning by 12.9% during the 4th quarter. Triodos Investment Management BV now owns 140,000 shares of the construction company’s stock valued at $23,845,000 after acquiring an additional 16,000 shares during the period. 88.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $183.97, for a total value of $321,947.50. Following the transaction, the insider now directly owns 11,635 shares in the company, valued at approximately $2,140,490.95. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.82% of the stock is owned by insiders.

Owens Corning Stock Down 3.1 %

Shares of OC opened at $142.64 on Monday. 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. The company has a market capitalization of $12.20 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.88 and a beta of 1.52. The business’s 50 day moving average is $164.63 and its 200 day moving average is $176.39.

Owens Corning (NYSE:OC) last issued its quarterly earnings data 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 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 quarter last year, the business posted $3.21 earnings per share. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 10th will be given a $0.69 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.93%. Owens Corning’s dividend payout ratio is presently 37.70%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OC. Citigroup lowered their price target on shares of Owens Corning from $212.00 to $207.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Loop Capital cut their price objective on Owens Corning from $215.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 10th. StockNews.com downgraded shares of Owens Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. UBS Group cut 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 note on Tuesday, February 25th. Finally, Barclays lowered their price objective on shares of Owens Corning from $245.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $204.18.

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.