Bank Pictet & Cie Europe AG Takes Position in Owens Corning (NYSE:OC)

Bank Pictet & Cie Europe AG purchased a new stake in shares of Owens Corning (NYSE:OC) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 168,219 shares of the construction company’s stock, valued at approximately $28,651,000. Bank Pictet & Cie Europe AG owned about 0.20% of Owens Corning as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Stratos Wealth Partners LTD. lifted its holdings in Owens Corning by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,297 shares of the construction company’s stock valued at $221,000 after purchasing an additional 53 shares in the last quarter. Greenleaf Trust lifted its holdings in Owens Corning by 1.5% during the fourth quarter. Greenleaf Trust now owns 3,895 shares of the construction company’s stock valued at $663,000 after purchasing an additional 56 shares in the last quarter. Retirement Guys Formula LLC lifted its holdings in Owens Corning by 3.1% during the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock valued at $342,000 after purchasing an additional 58 shares in the last quarter. PFG Investments LLC lifted its holdings in Owens Corning by 3.9% during the third quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after purchasing an additional 68 shares in the last quarter. Finally, First Bank & Trust lifted its holdings in shares of Owens Corning by 2.0% in the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock worth $646,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Insider Buying and Selling at Owens Corning

In other news, insider Gunner Smith sold 17,450 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $191.19, for a total value of $3,336,265.50. Following the transaction, the insider now directly owns 18,866 shares in the company, valued at approximately $3,606,990.54. This represents a 48.05 % 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. Also, insider Monaco Nicolas Del sold 1,750 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total transaction of $321,947.50. Following the completion of the transaction, the insider now owns 11,635 shares in the company, valued at approximately $2,140,490.95. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Owens Corning from $213.00 to $217.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Evercore ISI boosted their target price on shares of Owens Corning from $189.00 to $196.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Citigroup lowered their target price 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. UBS Group boosted their target price on shares of Owens Corning from $197.00 to $218.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Loop Capital lowered their target price on shares of Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.75.

Owens Corning Trading Up 0.8 %

OC stock opened at $179.44 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. Owens Corning has a twelve month low of $138.70 and a twelve month high of $214.53. The stock has a market capitalization of $15.39 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46. The firm’s fifty day simple moving average is $179.67 and its two-hundred day simple moving average is $178.75.

Owens Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Monday, March 10th. Owens Corning’s dividend payout ratio (DPR) is 23.49%.

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.